Author Topic: S&P Tells Judge: Obama, Geithner Wanted Payback for US Downgrade  (Read 388 times)

0 Members and 1 Guest are viewing this topic.

Offline happyg

  • Hero Member
  • ****
  • Posts: 11,822
S&P Tells Judge: Obama, Geithner Wanted Payback for US Downgrade
« on: February 25, 2014, 11:09:35 AM »

Offline Oceander

  • Technical
  • Hero Member
  • ****
  • Posts: 48,279
  • TBR Illuminati
Re: S&P Tells Judge: Obama, Geithner Wanted Payback for US Downgrade
« Reply #1 on: February 25, 2014, 01:29:10 PM »
interesting, although such a request by S&P would be better if couched in terms of a counterclaim for abuse of process or malicious prosecution, rather than simply as a defense to alleged fraud; after all, if S&P did, in fact, commit the alleged fraud (not sayin' they did or did not), then the motive for bringing this suit against it is not particularly relevant.

Online truth_seeker

  • Hero Member
  • ****
  • Posts: 20,044
  • Common Sense Results Oriented Conservative Veteran
    • The place where argument addicts can go
Re: S&P Tells Judge: Obama, Geithner Wanted Payback for US Downgrade
« Reply #2 on: February 25, 2014, 01:56:16 PM »
A few years prior to this, the rating agencies were giving top marks to toxic mortgage backed securities.

They should have been sued clear out of business, for knowingly committing fraud, over that.

Downgrading the US Govt. securities was an act, to reestablish their "credibility."
"God must love the common man, he made so many of them.�  Abe Lincoln

Offline Oceander

  • Technical
  • Hero Member
  • ****
  • Posts: 48,279
  • TBR Illuminati
Re: S&P Tells Judge: Obama, Geithner Wanted Payback for US Downgrade
« Reply #3 on: February 25, 2014, 02:02:49 PM »
A few years prior to this, the rating agencies were giving top marks to toxic mortgage backed securities.

They should have been sued clear out of business, for knowingly committing fraud, over that.

Downgrading the US Govt. securities was an act, to reestablish their "credibility."

I'm not so sure the poor grading given earlier was fraudulent, or simply out of negligence, even if gross; but in any event, if there is a colorable, good-faith basis for the claims they're being sued on, then the motives for bringing those claims are largely irrelevant.  If Person A causes a traffic accident with Person B, Person B is still entitled to sue Person A even if he - Person B - hates A's guts and would probably not have sued if he'd been friends with A instead.

Offline Gazoo

  • Inactive Members
  • Hero Member
  • ****
  • Posts: 3,968
Re: S&P Tells Judge: Obama, Geithner Wanted Payback for US Downgrade
« Reply #4 on: February 25, 2014, 02:04:22 PM »

When they attack/litigate S&P for daring to downgrade the U.S. when the long legged mack daddy, self appointed mob King, is President. They will attack/bully anyone.

We have radical mob-ruling thugs in our White House and no one cares because Obama happens to be half-black. If Obama were white would he be impeached by now?
"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"?


Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf