Geithner: S&P showed terrible judgment

Associated Press ^ | 8-8-11 | MARTIN CRUTSINGER

[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.

[Lysandru]

Geithner does have chutzpah, doesn’t he?

[cblue55]

Geitner takes “projection” to a whole new dimension.

[Jim Robinson]

Geithner should resign or be run out of office in disgrace. What a fricken idiot!!

[AbolishCSEU]

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?

[LyinLibs]

Maybe S&P used Turbo Tax.

[TribalPrincess2U]

Is this the same ‘know it all genius’ that let's Turbo do his taxes?

[elpadre]

You know the S&P folks are not going to take all this criticism from the administration well - there may be another shoe to fall.

[RoseofTexas]

FREAKIN jerk-offs!! Still blaming others...OH PLEASE TELL ME FOLK are finally waking up and seeing these bozos for what they're truly are...EVIL AND WICKED!!

[freedomfiter2]

Hey tax cheat, your boss showed poor judgment.

[Volunteer]

If you tell a life often enough Tim, it is still a lie.

[Brilliant]

This is why Obama likes him. He doesn’t waste breath telling the truth. Why tell the truth, when a lie works much better?

[Flycatcher]

OH PLEASE TELL ME FOLK are finally waking up and seeing these bozos for what they're truly are...EVIL AND WICKED!!

I'm less demanding.

All I want is 50.1% of the voters to understand that in November of 2012.

[familyop]

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.

[Graneros]

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.

[JustTheTruth]

We are seeing one reason that the rating agencies totally failed us on sub-prime mortgage ratings. Political pressure.

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.

[Mad Dawgg]

"Geithner: S&P showed terrible judgment"

Translation: 'The "Its the Tea Party's Fault" meme has failed so now we gotta try killing the messenger!'

[Do Not Make Fun Of His Ears]

When has this administration ever accepted responsibility for anything?

[stephenjohnbanker]

No, he is a HO

[PalmettoMason]

All I want is 50.1% of the voters to understand that in November of 2012.

That's a little too close for comfort. Anything less than 55%, and the Rats will steal the election.