S&P's Sharma on U.S. Debt Downgrade, Rating Process

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Aug. 9 (Bloomberg) -- Deven Sharma, president of Standard & Poor's, talks about the methodology the agency uses to calculate its debt ratings and S&P's decision to downgrade U.S. debt from AAA to AA+. S&P officials blamed "uncertainty" in the policymaking process on Aug. 5, when they cut the U.S. government’s top credit rating. The ratings company went ahead with its downgrade after the Treasury Department pointed out what it said was a $2 trillion calculation error. Sharma speaks with Erik Schatzker on Bloomberg Television's "InsideTrack." (Source: Bloomberg)

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