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 ...
Well, I did provide an avenue for you to work in “hard on Boehner”, didn’t I? :-)
TAX CHEAT
Time to dust off my Red Stamp and start applying above his signature, on everything that passes through my wallet.
What a surprise (NOT)
Whenever I read “bombshell” ... it isn’t. Will believe it when something comes of it. Not getting my hopes up.
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.
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.
Time for the military to surround the capital and take it back.
None of the investigations have teeth, no indictments for testimony, all hat no cattle.
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?'
These days instead of a shoulder harness the FBI comes equipped w/a mop and broom.
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.
Okay, so which one had the house fall on her and which one melted when Dorothy threw the water on her?
Agreed.
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