Government bullies S&P to punish them for doing their job
It comes as no surprise that the former US Secretary of the Treasury, Tim Geithner (close buddy to Barack Obama), tried to bully S&P’s parent company chairman of McGraw-Hill Financial Inc, for its 2011 decision to strip the United States of its coveted “triple-A” rating.
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.”
The US Department of Justice’s $5 billion fraud lawsuit: is the: type of bullying: message that Don Corleone: would send for: going “outside the family”. Forget about worrying if your child faces bullies at: school, just think: about the gangsters: American business is facing in the office when dealing with the US Government.
If you think the government is a bully: check out their hitmen:
On Wednesday, while reacting to the death of an American border agent, Sir Richard Branson told Reuters that the American
Remember, though, that Obamacare is somehow going to save the American people lots and lots of money (The Hill) The