The Briefing Room
General Category => National/Breaking News => Topic started by: Gazoo on January 23, 2014, 01:43:28 pm
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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 (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
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(http://cdn1.ricochet.com/var/ezwebin_site/storage/images/media/images/obama-bully/2711552-1-eng-US/Obama-Bully_lightbox.jpg)