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Bombshell sworn allegation against Tim Geithner
The American Thinker ^ | 1-22-14 | Thomas Lifson

Posted on 01/22/2014 6:50:06 AM PST by afraidfortherepublic

If anyone thinks "Bridgegate" is an example of political bullying and abuse of power, then the sworn (under penalty of perjury) allegation of a corporate heavy hitter against Secretary of the Treasury Timothy Geithner is off the charts. Bloomberg Businessweek reports:

Former U.S. Treasury Secretary Timothy Geithner told McGraw Hill Financial Inc. Chairman Harold W. McGraw III in 2011 that Standard & Poor's downgrade of the U.S. debt would be met by a response, S&P said.

S&P filed a declaration by McGraw yesterday in federal court in Santa Ana, California, as part of a request to force the U.S. to hand over potential evidence that the company says will support its claim that the government filed a fraud lawsuit against it last year in retaliation for its downgrade of the U.S. debt two years earlier.

In his court statement, McGraw, 65, said Geithner called him on Aug. 8, 2011, after S&P was the only credit ratings company to downgrade the U.S. debt. Geithner, McGraw said, told him that S&P would be held accountable for the downgrade. Government officials have said the downgrade was based on an error by S&P.

"S&P's conduct would be looked at very carefully," Geithner told McGraw according to the filing. "Such behavior would not occur, he said, without a response from the government."

And a very serious "response" from the federal government followed:

The Justice Department last year accused S&P of lying about its ratings being free of conflicts of interest and may seek as much as $5 billion in civil penalties for losses to federally insured financial institutions that relied on the company's investment-grade ratings for mortgage-backed securities and collateralized-debt obligations,

(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Crime/Corruption; Government
KEYWORDS: bridgegate; geithner; knowntaxcheat; obama; obamascandals; sandp; standardandpoors; timothygeithner; treasury

1 posted on 01/22/2014 6:50:06 AM PST by afraidfortherepublic
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To: afraidfortherepublic

Boy, howdy! Just wait until JOHN BOEHNER finds out about this!


2 posted on 01/22/2014 6:56:28 AM PST by Howie66 (Molon Labe, Traitors!)
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To: afraidfortherepublic

S&P wants to furnish ALL Documentation Relating To This Gross Breach!!How Will Obongo Dance Around This?Will It Be Brabded As Yet More”Racism”??


3 posted on 01/22/2014 6:56:32 AM PST by bandleader
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To: afraidfortherepublic

TurboTax Timmy taken to trial!


4 posted on 01/22/2014 6:57:11 AM PST by struggle
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To: afraidfortherepublic

The media is communist. Anything the communists in government do, is fine with the media. Wrongdoing by communists is ignore, excused, and explained away.

If this is covered at all, it will be dismissed as a he said - he said.


5 posted on 01/22/2014 6:58:20 AM PST by brownsfan (Behold, the power of government cheese.)
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To: afraidfortherepublic

But.... REPUBLICANS!11!!!!


6 posted on 01/22/2014 7:01:06 AM PST by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
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To: afraidfortherepublic

Mob style government.


7 posted on 01/22/2014 7:01:13 AM PST by wiggen (The teacher card. When the racism card just won't work.)
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To: brownsfan
We are 100% the Soviet Union.

I shall never refer to the USA again.

It is the United Socialist States of America.

8 posted on 01/22/2014 7:02:31 AM PST by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
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To: Lazamataz

Hank Williams Jr wrote a song about that.


9 posted on 01/22/2014 7:05:55 AM PST by LibLieSlayer (FROM MY COLD, DEAD HANDS! BETTER DEAD THAN RED!)
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To: afraidfortherepublic
Natalie Earnest, a spokeswoman for the Treasury Department

Why should we believe her? She works for Barak Obama.

10 posted on 01/22/2014 7:07:01 AM PST by tbpiper
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To: Lazamataz

“It is the United Socialist States of America.”

It’s a fact. There is no fight, the people are getting what they think they want, as prescribed by the media.

All we can do is watch it happen. Fortunately, I’m on the back 9 of life, so I’ll be on my way out when things get really bad.


11 posted on 01/22/2014 7:10:13 AM PST by brownsfan (Behold, the power of government cheese.)
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To: bandleader; Revolting cat!; GeronL

The actions by more rogue agents at an office in Poughkeepsie, no doubt.


12 posted on 01/22/2014 7:10:31 AM PST by a fool in paradise ("Health care is too important to be left to the government.")
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To: afraidfortherepublic

Everyone of these govt thugs ONLY wants to protect their excessive salary and massive pension and benefit package.

Guarantee them this golden handshake and they will talk — until their body is found in Marcy Park.


13 posted on 01/22/2014 7:11:39 AM PST by George from New England (escaped CT in 2006, now living north of Tampa)
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To: Howie66

Boy, howdy! Just wait until JOHN BOEHNER finds out about this!
= = = = = = = = = = = = =
I think y’all just being to hard on Boehner.

After all, he has all the ongoing investigations inre Fast and Furious, Benghazi, working on the ouster of ALL illegals, steadily working on getting obimascare repealed, daily holding peoples feet to the fire for disregarding the Constitution, trying to get the Redskins to change their Racist name, investigating why the first swearing in for BO was done in private, etc etc...

Enough on his plate to make him cry.


14 posted on 01/22/2014 7:12:12 AM PST by xrmusn (6/98 --Because you have your head up your arse doesn't mean you have to have a crappy outlook.)
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To: afraidfortherepublic

Bombshell = Dud


15 posted on 01/22/2014 7:12:43 AM PST by bigbob (The best way to get a bad law repealed is to enforce it strictly. Abraham Lincoln)
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To: afraidfortherepublic

This is going places. McGraw never would have done this if he didn’t think he could win.


16 posted on 01/22/2014 7:12:54 AM PST by clintonh8r (Don't twerk me, Bro!)
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To: tbpiper
Natalie Earnest, a spokeswoman for the Treasury Department

Let me guess, she said "WHATEVER."


17 posted on 01/22/2014 7:13:44 AM PST by a fool in paradise ("Health care is too important to be left to the government.")
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To: Lazamataz

We’re not really socialist. The US has become more of a facist-type situation with big government and big corporations figuring out how to take away our freedoms and our economic independence. Socialists would cut out the corporations totally.


18 posted on 01/22/2014 7:14:11 AM PST by grania
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To: afraidfortherepublic

it’s the Chicago Way


19 posted on 01/22/2014 7:15:28 AM PST by Buckeye McFrog
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To: Lazamataz
It is the United Socialist States of America.

I've been calling it the Socialist Caliphate of the Western Hemisphere.

20 posted on 01/22/2014 7:21:41 AM PST by UCANSEE2 (I forgot what my tagline was supposed to say)
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To: xrmusn

Well, I did provide an avenue for you to work in “hard on Boehner”, didn’t I? :-)


21 posted on 01/22/2014 7:26:11 AM PST by Howie66 (Molon Labe, Traitors!)
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To: afraidfortherepublic

TAX CHEAT

Time to dust off my Red Stamp and start applying above his signature, on everything that passes through my wallet.


22 posted on 01/22/2014 7:29:02 AM PST by G Larry
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To: afraidfortherepublic

What a surprise (NOT)


23 posted on 01/22/2014 7:36:51 AM PST by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: afraidfortherepublic

Whenever I read “bombshell” ... it isn’t. Will believe it when something comes of it. Not getting my hopes up.


24 posted on 01/22/2014 7:45:55 AM PST by RIghtwardHo
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To: Howie66

BEOHNER ?!?

Just watch what Issa does with this info! He’ll strecth out his career pandering to the conservative base consistently promising “action” and “investigation insight”.

Putz? Thy name is Issa.


25 posted on 01/22/2014 7:48:42 AM PST by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations: The acronym defines the science.)
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To: afraidfortherepublic
I'm actually getting a kick out of the food fight between Big Government and Crony Capitalists.

The ratings agencies pimped themselves out to the highest bidder during the securitization bubble. S&P was essentially classifying portfolios containing horse manure bonds as (insert Jack Nicholson from Easy Rider) "USDA...Prime".

Put 'em all in jail, and that includes Turbo Tax Timmy.

26 posted on 01/22/2014 7:53:51 AM PST by Night Hides Not (For every Ted Cruz we send to DC, I can endure 2-3 "unviable" candidates that beat incumbents.)
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To: afraidfortherepublic

Time for the military to surround the capital and take it back.


27 posted on 01/22/2014 8:07:44 AM PST by aces (Jesus Saves not Society)
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To: xrmusn

None of the investigations have teeth, no indictments for testimony, all hat no cattle.


28 posted on 01/22/2014 8:09:38 AM PST by aces (Jesus Saves not Society)
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To: grania
Exactly right! The fascisti have taken over. Way different than socialism. By definition, fascists adopt a set of goals which place themselves above any law or national tradition. Hence Hitler declared the so-called 'Aryan race' as superior and acted accordingly incarcerating or killing other minorities especially of course the Jews. Major industrials like Krupp, Mercedes, BMW, Bayer etc.were not nationalized as they would be by Socialists, but in fact benefited by playing along.

Today we have the MSM, major banks like Goldman and Chase, GM, Chrysler, GE, green energy companies like Solyndra all playing along. And who is the new superior race? Which race is above the law as enunciated by the chief federal prosecutor, our Attorney General who said he would not prosecute 'his people?'

29 posted on 01/22/2014 8:09:58 AM PST by masadaman
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To: afraidfortherepublic
Not to worry, Holder will assign the FBI to investigate and I'm sure they'll clear this up.

These days instead of a shoulder harness the FBI comes equipped w/a mop and broom.

30 posted on 01/22/2014 8:14:08 AM PST by Pietro
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To: aces

None of the investigations have teeth, no indictments for testimony, all hat no cattle
= = = = = = = = = = = = = = = = =
Uh, think sarcasm.
I think Beohner is a ‘lazy POS’ that is either being coerced or never was on ‘our’ side to begin with.


31 posted on 01/22/2014 8:19:06 AM PST by xrmusn (6/98 --Because you have your head up your arse doesn't mean you have to have a crappy outlook.)
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To: a fool in paradise

Okay, so which one had the house fall on her and which one melted when Dorothy threw the water on her?


32 posted on 01/22/2014 9:31:16 AM PST by CommerceComet (Ignore the GOP-e. Cruz to victory in 2016.)
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To: xrmusn

Agreed.


33 posted on 01/22/2014 1:50:01 PM PST by aces (Jesus Saves not Society)
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