Author Topic: S&P Chairman: Obama Regime Threatened Us After We Downgraded America’s Credit Rating In 2011  (Read 267 times)

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Offline Gazoo

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Jan 21 (Reuters) – Former U.S. Treasury Secretary Timothy Geithner angrily warned the chairman of Standard & Poor’s parent that the rating agency would be held accountable for its 2011 decision to strip the United States of its coveted “triple-A” rating, a new court filing shows.

Harold McGraw, the chairman of McGraw-Hill Financial Inc, made the statement in a declaration filed by S&P on Monday, as it defends against the government’s $5 billion fraud lawsuit over its rating practices prior to the 2008 financial crisis.

McGraw said he returned a call from Geithner on Aug. 8, 2011, three days after S&P cut the U.S. credit rating to “AA-plus,” and that Geithner told him “you are accountable” for an alleged “huge error” in S&P’s work.

“He said that ‘you have done an enormous disservice to yourselves and to your country,’” and that S&P’s conduct would be “looked at very carefully,” McGraw said. “Such behavior could not occur, he said, without a response from the government.”

http://uk.reuters.com/article/2014/01/21/mcgrawhill-sandp-lawsuit-idUKL2N0KV1O120140121


I wonder if our MSM will be picking up this story? You would think...that reuters in America would pick up a reuters UK story.
I doubt it...''Our media won't until after the midterm elections, if ever.

Appalling!

If this were Bush as President the American MSM would be on this 24/7 like white on rice, reporting on the bully tactics
"The Tea Party has a right to feel cheated.

When does the Republican Party, put in the majority by the Tea Party, plan to honor its commitment to halt the growth of the Federal monolith and bring the budget back into balance"?

Offline Gazoo

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"The Tea Party has a right to feel cheated.

When does the Republican Party, put in the majority by the Tea Party, plan to honor its commitment to halt the growth of the Federal monolith and bring the budget back into balance"?


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