Skip to comments.Geithner: S&P showed terrible judgment
Posted on 08/07/2011 6:57:45 PM PDT by Justaham
WASHINGTON The credit rating agency Standard & Poor's showed "terrible judgment" in lowering the U.S. government's credit rating, Treasury Secretary Timothy Geithner said Sunday.
"They've handled themselves very poorly. And they've shown a stunning lack of knowledge about the basic U.S. fiscal budget math," Geithner said in his first public comments about the credit rating decision.
Interviewed on CNBC, Geither said that U.S. Treasury securities were just as safe now as they were before S&P announced its downgrade. He predicted that China and investors would remain strong purchasers of U.S. government debt.
Republicans have blamed President Barack Obama for the first-ever downgrade of the government's credit rating.
But Geithner said Congress owns the credit rating because the Constitution gives Congress the power to tax and spend.
Late Friday, S&P announced it was lowering its rating for U.S. debt one notch from AAA to AA+.
The other two major credit rating agencies, Moody's Investor service and Fitch Ratings, have not lowered their AAA ratings, although they have warned of a possible downgrade if more is not done to deal with soaring federal deficits.
(Excerpt) Read more at old.news.yahoo.com ...
Geithner does have chutzpah, doesn’t he?
Geitner takes “projection” to a whole new dimension.
Geithner should resign or be run out of office in disgrace. What a fricken idiot!!
Maybe if Geitner had paid “his fair share” of taxes (along with Charlie Rangel, et al) we wouldn’t be in this mess today.
How’s THAT for spin?
Maybe S&P used Turbo Tax.
Hey tax cheat, your boss showed poor judgment.
This is why Obama likes him. He doesn’t waste breath telling the truth. Why tell the truth, when a lie works much better?
I'm less demanding.
All I want is 50.1% of the voters to understand that in November of 2012.
Sure, Timothy. You just do the job that you were trained to do all of your life: the currency and trade wars. The debt regime is already a juggernaut in motion to the repudiation finish.
Anything and I mean ANYTHING other than Obama, Reid, Pelosi, Dodd, Frank, Schummer, yada,yada yada yada, et al is the reason for this debacle. It’s the Tea Party, no wait it’s S&P, no it’s UHHHH...
Democrats are the bane of this nation. I hate the lying, sniveling, communistic pieces of regurgitated snake sh*t.
Other reasons: integrity, conflict of interest, narrow group think. Now we'll see how the fascists and banksters attack, ridicule, repress and try to destroy anyone who dares to challenge the statist-globalist-financial empire that currently rules the western nations.
Translation: 'The "Its the Tea Party's Fault" meme has failed so now we gotta try killing the messenger!'
When has this administration ever accepted responsibility for anything?
No, he is a HO
That's a little too close for comfort. Anything less than 55%, and the Rats will steal the election.
Oh yes, he was right... The problem is just how long we have before we default! Does anyone here really think that we can continue along this path? If so, speak up!
Glenn Beck was and seems to continue to be right!...
What an arrogant POS.
This guy has to be the worst Treasury Secretary of all time and whoever is 2nd is a distant second.
Timmy oughta go back to playin Chutes and Ladders cause he’s no damn good at all at Monopoly.
The S&P move is IMHO what amounts to a “shot across the bow”.
But it’s too late. Shoulda happened when we crossed the 10 trillion mark.
The drunken sailors in DC can’t stop spending, and they know it, they would get voted out in a heartbeat, because there are just too many people on the government tit.
46 million on food stamps. That’s like one out of every six people you see. And that’s just food stamps. Not SS, Medicare, unemployment, various disabilities, pensions, yada yada blah blah etc etc etc etc...
Timmy you twit.... Propaganda doesn’t trump fiscal facts .
Prepare your criminal defense team Timmy.
OK then. They need to stop blaming Bush and blame the Democrat Controlled Congress at that the time.
The people at S&P must be livid reading the spin coming out of Washington DC and the Lib talking heads.
Trying to cast this as the “Tea Party Downgrade” when S&P had clearly indicated previously what the real issue is (hint, it isn’t too little spending) shows a blatant attempt by the Libs to cynically blame Tea Party Conservatives for their own horrendous habits AND a willingness to try and put words in the mouth of S&P.
I would not be surprised at all if S&P issued a very strongly worded statement to clarify things. Such a statement would be even more damaging to the Administration than the actual downgrade.
Wow! Can’t believe that most here underestimate the problem with any of the grading agencies downgrading us! Folks, we are facing a major problem and you all seem to simply say ah, that is too bad...!!
Folks - We are entering the end times and you are sleeping! Actually, seems normal for this bunch of nonbelievers...
They arent worried about today it the future with you asshats in power
Forget the JUDGEMENT crap...the bastards were too busy rubbing elbows and partying with the demonic HELLywood folk the bastards didn’t know what hit them...UGH...
I think he’s so bad that he’s the worst AND second worst TS, even though he’s only served once...
Timmy never held a job that needed a fact based outcome. Guess he goofed, cause he got caught on this one. Just wish our whole country didn’t have to suffer.
- Obama: “S&P made 2T error”
- Axelrod: “TP’s fault”
- Geithner: “Didn’t really happen.”
- DNC- “Taxes too low and spend more”
- Chicoms- “The days of borrowing your way out of messes is over”
Geithner should look up the definition of judgment before he comments on someone else’s, good or bad. His lack of understanding is unbelievable.
This coming from the guy who can't even correctly fill out a Form 1040. The truth simply isn't in these people.
Hey Geithner - it's the debt, stupid! Once debt surpasses GDP, we're screwed. Get it?
“terrible judgment” Treasury Secretary Timothy Geithner said Sunday. “They’ve handled themselves very poorly ... stunning lack of knowledge about the basic U.S. fiscal budget math,” Geithner said Congress owns the credit rating
Madam, how like you this play?
Queen. The lady doth protest too much, methinks.
That’s a man, your Highness.
Queen. Coulda fooled me.
These liberals destroy the country(that includes Boehner), and all I see in the media are attacks on the people who are our only hope of fixing this mess. The deception is so total.
And what would the little pansy a** twit be saying about S&P if they had gone in the tank for him like those fricking whores at Moody’s?????? BTW, there is some kind of Indonesian connection between tiny Timmy Tax Cheater and the undocumented alien from Nairobi. Which might explain why Soetero will never fire tiny Timmy.
Geitner, Obama and their staffs should all be named Richard Craniums....
A freaking community organizer and a clown who can’t master Turbo Tax.....and they don’t understand how to run a country...OMGosh.
If 50.1% of the voters understand, Obama will win with about 65% of the votes.
ROFL @ YOU, YOU CLOWN!
The hell are we even paying these asshats for!??
Our entire frickin’ country is just a stupid, bad joke now...
If Republicans had any stones they should demand that Geithner an Bernanke immediately resign and begin impeachment proceedings against Obama.
He doesn’t follow the script to well, he is supposed to say “They acted stupidly” Mayne bin bama will have them over for a beer.
Do people like Geithner expect to be hired by someone after they display such incompetence nationally or do they just believe, he has to lie for political reasons.
Do they want to hire liars though?
Don’t stand too close to this jerk, it’s only a matter of time before a bolt of lightning gets him. Thanks Justaham.