Reuters: Geithner Warned S&P About U.S. Downgrade
Reuters reported that according to a court filing, former U.S. Treasury Secretary Timothy Geithner warned the chairman of S&P’s parent that the rating agency would be held accountable for its 2011 decision to strip the U.S. of its “triple-A” rating.
The Reuters article said that Harold McGraw, the chairman of McGraw-Hill Financial, made the statement in a declaration filed by S&P recently, as it defends against the government’s $5 billion fraud lawsuit over its rating practices prior to the 2008 financial crisis.
To read the full Reuters article click here.
Previously on monitordaily.com: Bloomberg: Analysts to Be Questioned in S&P Lawsuit, January 20, 2013
Previously on abfjournal.com: Bloomberg: Analysts to Be Questioned in S&P Lawsuit, January 20, 2013