FBD
02-03-2015, 04:00 PM
http://www.zerohedge.com/news/2015-02-03/sp-settles-doj-lawsuit-15-billion-agrees-not-accuse-government-retaliation-us-downgr
So let me get this straight, S&P downgrade the USA's credit rating, yet somehow S&P was "doing something illegal" and must now pay the US government a 1.3 billion dollar fine....for....what, pointing out that the emperor has no clothes?
"S&P’s [downgrade] 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."
So S&P dare say so, and the government charges them with fraud, and
"S&P agreed to ... withdraw its assertion that the Justice Department lawsuit was political retaliation for the ratings firm’s 2011 downgrade."
I simply dont understand how the government was able to say "you downgraded us. that is fraudulent. now pay us fines."
So let me get this straight, S&P downgrade the USA's credit rating, yet somehow S&P was "doing something illegal" and must now pay the US government a 1.3 billion dollar fine....for....what, pointing out that the emperor has no clothes?
"S&P’s [downgrade] 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."
So S&P dare say so, and the government charges them with fraud, and
"S&P agreed to ... withdraw its assertion that the Justice Department lawsuit was political retaliation for the ratings firm’s 2011 downgrade."
I simply dont understand how the government was able to say "you downgraded us. that is fraudulent. now pay us fines."