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Geithner Warned S&P Chairman US Would Retaliate For Downgrade

Tyler Durden's picture




 

Who can forget Tim Geithner's historic interview from April 2011, in which he said:

Peter Barnes “Is there a risk that the United States could lose its AAA credit rating? Yes or no?”

 

Geithner’s response: “No risk of that.”

 

“No risk?” Barnes asked.

 

No risk,” Geithner said.

Considering that the US was downgraded by S&P just 4 months later, one person who certainly will never forget his idiotic preannouncement, is the former Treasury secretary, Tim Geithner. And being the sore loser that everyone suspected he was (although one hopes his recent well-paid move to Warburg Pincus will help soothe his sensitivity) it will come as no surprise that Geithner told the Chairman of embattled rating agency Standard & Poor's, that its downgrade of the US from AAA to AA+ "would be met by a response."

From Bloomberg:

S&P filed a declaration of McGraw yesterday in federal court in Santa Ana, California, as part of a request to force the U.S. to hand over potential evidence 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 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.”

 

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. The government alleged in its Feb. 4, 2013, complaint that S&P knowingly downplayed the risk on securities before the credit crisis to win business from investment banks seeking the highest possible ratings to help sell the instruments.

None of this somces as a surprise, and it has been well-known for a long time that the only reason the US Department of Injustice targeted only S&P and not Moody's or Fitch for their crisis era ratings of mortgages is precisely due to Geithner's vendetta with S&P. Of course, this kind of selective punishment simply means that nobody else will dare to touch the US rating ever again, or speak badly against the sovereign in a public medium for fears of retaliation.

Naturally, while this means that the credibility of the rating agencies is now non-existent even among the head in the sand groupthink, what is worse is observing the US' slide into the kind of totalitarian, 1st Amendment quashing tactics that worked out so well for all previous fascist regimes. 

 

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Tue, 01/21/2014 - 08:47 | 4351089 Dr. Engali
Dr. Engali's picture

.223 rounds are cheap....Just saying.

Edit...... Btw what is somces?

Tue, 01/21/2014 - 08:50 | 4351103 idea_hamster
idea_hamster's picture

So we can now rule out anyone in DC saying "This is the US -- we're not Argentina!"  (Well, at least not without some irony....)

Tue, 01/21/2014 - 08:57 | 4351119 HoofHearted
HoofHearted's picture

Later in the letter, Geithner reiterated..."Come on S&P. In fascism government and business work TOGETHER! Moody's and Fitch are on board..."

Tue, 01/21/2014 - 08:57 | 4351120 Obchelli
Obchelli's picture

If you want your taxes you can have your taxes

Tue, 01/21/2014 - 09:07 | 4351139 Stackers
Stackers's picture

Chicago politics at its finest

Tue, 01/21/2014 - 09:37 | 4351225 He_Who Carried ...
He_Who Carried The Sun's picture

What do you want?

Did the Jews invent democracy?

So...?

 

Tue, 01/21/2014 - 09:55 | 4351313 onewayticket2
onewayticket2's picture

...and yet the press - in an effort to cement Hillary 2016 - is still nearly wall to wall with some cones placed in the road in fort lee. 

 

Tue, 01/21/2014 - 10:41 | 4351440 I am more equal...
I am more equal than others's picture

 

 

 

Timmy needs to be invited to a White Party and his ass used as a pinata for all those throbbing penises. 

Tue, 01/21/2014 - 11:13 | 4351515 Handful of Dust
Handful of Dust's picture

So how many S&P execs went to the slammer for false or deceptive ratings?

Tue, 01/21/2014 - 11:56 | 4351636 Bunga Bunga
Bunga Bunga's picture

Nationalize Turbo-Tax!

Tue, 01/21/2014 - 12:15 | 4351688 LMAOLORI
LMAOLORI's picture

 

 

Jail is for the little people not the bankers or rating agencies they just pay bribes err I mean fines and holder and obama make all the nasty prison sentences go away.

Tue, 01/21/2014 - 11:15 | 4351521 Fish Gone Bad
Fish Gone Bad's picture

Apparently people have never patted a hungry dog eating a meal...  It will bite your hand off, even if you are a friend.

Tue, 01/21/2014 - 11:15 | 4351524 SeattleBruce
SeattleBruce's picture

And I quote: “This is the most transparent administration in history,”  Prez. Obozo

Tue, 01/21/2014 - 11:28 | 4351553 Oldwood
Oldwood's picture

I cannot believe they would do such a thing. But of course there is that IRS thing where they were kind of going after potential enemies. And there was that GM thing where they were threatening bondholders to go along with the 95% haircut....or else. And then there were those insurance companies who were putting out less than optimistic projections about costs relative to Obamacare that were told to STFU. There were all those guns they sent across the border and then fired the guys who told on them, but that's not retribution. They were just making an example of those who lacked loyalty. And yes there are other instances, but not Timmy. Say it ain't so. I'm simply hurt that I wasn't invited to the MLK/Michelle party celebrating the coup of the Tutsi tribe.

Tue, 01/21/2014 - 10:19 | 4351380 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

They sure know how to manipulate it. Short on Jews? whaaaaaa wait.

Tue, 01/21/2014 - 15:59 | 4352690 Silveramada
Silveramada's picture

..and, if you want to know who rules over you, just see who you are not allow to criticize....

Tue, 01/21/2014 - 10:41 | 4351436 Muddy1
Muddy1's picture

"The Justice Department last year accused the S&P of lying..."

If that's not the pot calling the kettle black I don't know what is.

I haven't missed seeing tiny Timmy's face at all.  Why did you have to bring his picture back?  YUK!

Tue, 01/21/2014 - 10:58 | 4351473 Ban KKiller
Ban KKiller's picture

Fallout among crooked banksters. Oops double negative. 

Tue, 01/21/2014 - 09:11 | 4351147 Gert_B_Frobe
Gert_B_Frobe's picture

Oh, come on. This is in no way retaliation. Comrade Zero and his lackies don't do retaliation.

Now closing some bridge lanes in Jersey ... that's retaliation. /sarc off

Tue, 01/21/2014 - 09:20 | 4351166 HoofHearted
HoofHearted's picture

Hi Sean Egan, wherever you are.

Tue, 01/21/2014 - 11:07 | 4351493 Offthebeach
Offthebeach's picture

Anyone seen Trotskys icepick around?

S&P, sleep with one eye open.

Wed, 01/22/2014 - 23:26 | 4357838 Buck Johnson
Buck Johnson's picture

We are Argentina, and it will get alot worse.  When this whole system collapses it will implode the US system of governance and law.  In fact I see where massive corruption and destitution will be along side enclaves of the rich and powerful to be the norm. 

Tue, 01/21/2014 - 08:59 | 4351127 Cognitive Dissonance
Cognitive Dissonance's picture

Yes, we have no bananas. But we do have a Banana Republic.

Tue, 01/21/2014 - 12:55 | 4351808 DaveyJones
DaveyJones's picture

I've already started wearing my underwear on the outside:

http://www.youtube.com/watch?v=EV4N2dk0cMk

Tue, 01/21/2014 - 09:40 | 4351233 firstdivision
firstdivision's picture

Btw what is somces?

An anagram for comess?  The extra 's' is to denote sarcasm.

Tue, 01/21/2014 - 09:49 | 4351281 drendebe10
drendebe10's picture

If you like your gummint tyranny, uou can keep your gummint tyranny.

Tue, 01/21/2014 - 10:22 | 4351387 GolfHatesMe
GolfHatesMe's picture

Free EGAN-JONES!

Tue, 01/21/2014 - 08:46 | 4351091 horot
horot's picture

Geithner is a sore loser. He should be grateful Billy Crudup portrays him in TBTF

Tue, 01/21/2014 - 11:19 | 4351530 Fish Gone Bad
Fish Gone Bad's picture

When a person is paid by someone, they do their bidding.  If a person does not want to be a bitch, then he shouldn't act like a bitch. 

Tue, 01/21/2014 - 08:45 | 4351092 CEOoftheSOFA
CEOoftheSOFA's picture

Right out of the Nazi play book.

Tue, 01/21/2014 - 10:30 | 4351406 PrecipiceWatching
PrecipiceWatching's picture

Or the Communists.

Same thing.

Leftist Totalitarians, all

Tue, 01/21/2014 - 10:51 | 4351458 Gene Parmesan
Gene Parmesan's picture

They're actually pushing fascism at this point.

Tue, 01/21/2014 - 10:36 | 4351427 DeadFred
DeadFred's picture

Considering Gitmo was an option I think they got off light.

Tue, 01/21/2014 - 08:45 | 4351093 enloe creek
enloe creek's picture

who cares

Tue, 01/21/2014 - 08:50 | 4351102 PlausibleDenial
PlausibleDenial's picture

I care... and I would like to squash that fucker if only I could find him.  Really did not need to see his rat face first thing this AM.  One day he will be sought out and when one of these banksters are hung then just maybe the other rats will run.... FMR

Tue, 01/21/2014 - 11:32 | 4351564 Fish Gone Bad
Fish Gone Bad's picture

One day he will be sought out

Short of the US being invaded by China and them rounding up all the banksters, this will NEVER happen in my lifetime.  Why?  Bankers pay for politicians, politicians control the military and police and all their toys.  The politicians then protect their mutualistic (http://en.wikipedia.org/wiki/Mutualism_%28biology%29) relationship. 

Getting mad about it merely draws attention to oneself.  Consider reading Dale Carnegie's How to Stop Worrying and Start Living (http://www.amazon.com/How-Stop-Worrying-Start-Living/dp/0671035975/ref=s...), because there is really nothing anyone can do to change it.

Google: cursing fish cafepress

Tue, 01/21/2014 - 11:31 | 4351566 prains
prains's picture

elbow

 

please pick up your participation ribbon at the short bus, they're waiting for you to leave

Tue, 01/21/2014 - 08:52 | 4351095 JustObserving
JustObserving's picture

"would be met by a response."

The immediate response was that the CEO of S&P, Deven Sharma, was forced to resign:

Deven Sharma (55), Indian-American president of credit rating agency Standard & Poor's, has resigned less than three weeks after his company found itself at the receiving end of the Obama administration's ire following its downgrade of the United States' credit rating from AAA to AA+.

S&P's announcement, that Mr. Sharma would be stepping down immediately and leaving the company at the end of the year, also follows reports last week that the U.S. Justice Department had initiated an investigation into the mortgage securities ratings allocation process at the McGraw-Hill subsidiary. In particular, authorities were said to be examining whether S&P “improperly rated dozens of mortgage securities in the years leading up to the financial crisis.”

S&P's downgrade of the U.S.' debt from AAA to AA+ on August 5, based on its perception that the deficit reduction measures agreed by the administration were insufficient to stabilise national debt, saw further market turmoil in its wake as the downgrade triggered a massive global sell-off.

http://www.thehindu.com/business/sp-chief-deven-sharma-resigns/article23...

We have the freest, fairest markets and rating agencies in the world.

Tue, 01/21/2014 - 09:07 | 4351140 disabledvet
disabledvet's picture

The irony is that the downgrade is/was probably good news. It showed there was risk to the QE "system" relative to the reality of how Government actually worked. It certainly got the "shut down crowd" shut up. Obviously the "wind down" crowd is now in full bloom as pretty much every Federal Program save Social Security will now be "commercialized." NASA, the Postal Service, the DOT, the DOE, the DOL, HHS...you name it...most of these folks "work from home" anyways. Some type of system to monitor the highway system will have to be set up...just get rid of "rubber hitting the road" and that will be it for pot hole fixing. Be interesting to see if the private sector can build there own Space Station actually.

Tue, 01/21/2014 - 09:16 | 4351159 new game
new game's picture

drone those bitchezz, you can't downgrade our fiat machine-worked fine for a 100 years.

whats a tril between cronies, hell we make life good for you! all transfers good,  really think we can't make good on our promisses?

all the military might says so.

tiiiiiiiiiimmmmmaaa, the man, back in the news-this shit show just never ends w/o more laughs.

jf funny

Tue, 01/21/2014 - 11:31 | 4351565 ChanceIs
ChanceIs's picture

Let us forget political affiliations. The best argument against the challenger (Romney/Republican in this case) being worthy of the office of the presidency was that he wouldn't/couldn't pummel the incumbent (Obama/Democrats in this case) with the fact that the debt had been downgraded.

The best argument that a college degree is worthless is that the debt downgrade wasn't deemed by the public to be the prime issue. It did happen to make it into the news.

The best argument that the press and government are in the hands of the banks is that the downgrade wasn't at least 5X the size story that the 9/11 terrorist attacks were.

The best metric of how screwed we are as a society is all of the above.

OBTW: f&@k Geithner

OBTW2: this what happens when you let a tax cheat be Treasury Secretary

Tue, 01/21/2014 - 08:47 | 4351096 Big Brother
Big Brother's picture

http://en.dagongcredit.com/

At least Dagong can "tell it like it is" without threat of being sued. 

(I'm not a paid endorser)

Tue, 01/21/2014 - 08:47 | 4351097 Bangin7GramRocks
Bangin7GramRocks's picture

That's why the shadow rulers love him. He looks like a meek nerd, but behind closed doors he is a criminal mastermind.

Tue, 01/21/2014 - 11:51 | 4351625 Richard Chesler
Richard Chesler's picture

Actually he looks like a weasel but your point is well taken.

Tue, 01/21/2014 - 08:48 | 4351099 Dre4dwolf
Dre4dwolf's picture

Criminals lol they are a funny bunch.

Tue, 01/21/2014 - 08:49 | 4351101 Deepskyy
Deepskyy's picture

Hell we bomb Pakistani weddings for shits and giggles.  Just THINK of what we will do to the S&P for such a slight.

Long Hellfires and Short burning banker corpses!

 

 

Tue, 01/21/2014 - 08:51 | 4351107 People'sRepubli...
People'sRepublicof CT's picture

same administration that claims not to know about IRS targeting, or NSA spying..."trust us, we will not misuse the massive amount of information we are collecting."

Tue, 01/21/2014 - 09:13 | 4351153 Gert_B_Frobe
Gert_B_Frobe's picture

Now PR, you know the media will give this the same level of coverage as they gave Christie

Tue, 01/21/2014 - 08:52 | 4351109 Calculus99
Calculus99's picture

Confidence comes from a warm and NATURAL feeling inside NEVER from constant announcements that all is great. Trying to manufacture confidence does serious financial damage to those mugs that believe the propaganda -  

http://www.zerohedge.com/news/2012-11-30/guest-post-lets-have-depression...

Tue, 01/21/2014 - 08:53 | 4351110 papaswamp
papaswamp's picture

Thought Egan Jones downgraded too...of course they got hammered by the US govt too. They strong arm a lot of companies.

Tue, 01/21/2014 - 09:17 | 4351160 Bearwagon
Bearwagon's picture

And it has been made absolutely clear that it would not be tolerated if they'd dare to rate the USA again. Neither down, nor up - they simply have been banned from rating.

Tue, 01/21/2014 - 08:58 | 4351111 fonzannoon
fonzannoon's picture

I'm mad as hell and i'm going to keep on btfdath!

Tue, 01/21/2014 - 08:53 | 4351112 One And Only
One And Only's picture

"Employees of the U.S. National Security Agency spied on "unfaithful" husbands, boyfriends and girlfriends using surveillance technology of the agency, according to a letter from the NSA to a U.S. Senator."

...of which Governors, Congressman, and Senators? Of which political opponents? The government has already PROVEN it has done this with using the IRS against it's oppenents.

Fascist indeed, particularly looking at all the large business in bed with the government.

Tue, 01/21/2014 - 09:23 | 4351179 Confused
Confused's picture

But....but.....this self promoting asshole (notice his books for sale in the background, a representative with a conflict of interest?) says there has not been 1 instance of abuse of power by the NSA....oh, and we haven't been "attacked" in 12 years. 

 

http://www.cnn.com/video/data/2.0/video/us/2014/01/17/lead-peter-king-on...

 

 

Tue, 01/21/2014 - 11:31 | 4351567 Oldwood
Oldwood's picture

Not saying its the same thing, but....I wonder how many official complaints were lodged against Hitler and Stalin? Like we can pass a law against tyranny. Laws ultimately ARE tyranny.

Tue, 01/21/2014 - 11:11 | 4351507 Offthebeach
Offthebeach's picture

Bwarny Fwank would be in office today if him being a fat oily hairy backed pillow biter hadn't be exposed.

Tue, 01/21/2014 - 08:54 | 4351114 Poor Grogman
Poor Grogman's picture

Fallen! Fallen is Babylon the Great!' She has become a dwelling for demons and a haunt for every impure spirit, a haunt for every unclean bird, a haunt for every unclean and detestable animal.

Including weasels it would seem.

Tue, 01/21/2014 - 11:44 | 4351602 eclectic syncretist
eclectic syncretist's picture

Gone are the days when they would send a common criminal like turbo timmy to a proper abode like Alcatrazz.  Instead nowadays he ends up on an island more like this one...

http://realtor.com/international/listing-detail/SANDY-CAY_Man-_-O-_-War-...

Tue, 01/21/2014 - 08:57 | 4351116 AreaMan
AreaMan's picture

Credit Rating agencies are this country's last bastion of honesty and truth in business.

Tue, 01/21/2014 - 09:05 | 4351138 StychoKiller
StychoKiller's picture

Bwahahahaha!  Don't quit yer day job.

Tue, 01/21/2014 - 11:20 | 4351537 resurger
resurger's picture

hahaha Fake MDB

Tue, 01/21/2014 - 11:26 | 4351551 prains
prains's picture

stop drinking the somces

Tue, 01/21/2014 - 11:36 | 4351577 Oldwood
Oldwood's picture

To tell the truth would be to relegate yourself to the margins, never to be taken seriously again. Truth...its for the muppets who believe the truth actually matters. What matters is what people believe. There is no other explanation for where we find ourselves. Marginalized and speaking out loudly, anonymously.

Tue, 01/21/2014 - 08:58 | 4351123 Sudden Debt
Sudden Debt's picture

who cares what that dwarf said? He's out!

Tue, 01/21/2014 - 09:04 | 4351136 quasimodo
quasimodo's picture

I care. I care that the fuckwad got away with all that shit and nary a slap on the wrist. 

Tue, 01/21/2014 - 11:29 | 4351559 pods
pods's picture

Yes but I think this is actually more helpful than if they had some token memo written up.

Most know this whole system is rotten to the core.  I mean, was anyone actually suprised by this?

I sure as fuck wasnt.  This whole thing is rotten. From the dog catcher to the POTUS.

I am now on the side of the common Roman, secretly cheering for the Goths to come.

pods

Tue, 01/21/2014 - 12:06 | 4351662 Loucleve
Loucleve's picture

Lets not forget people, they DID shut down Egan-Jones for having the balls to downgrade them.

Tue, 01/21/2014 - 09:03 | 4351132 Papasmurf
Papasmurf's picture

S&P played a major roll in the banking crisis, so must be prosecuted for the fraud so it isn't repeated.  Geithner's extortion of S&P is a separate matter that should be prosecuted separately.  S&P has no standing in that case.  The extortion has no bearing on the case against S&P.

Tue, 01/21/2014 - 09:35 | 4351217 Steve in Greensboro
Steve in Greensboro's picture

Let's not lose sight of the underlying fact that the controlling criminal enterprise here is the U.S. Federal Government. 

Everybody else (including S&P) either does what the Feds say or they get punished.

Step out of line and you will be punished.

Tue, 01/21/2014 - 10:09 | 4351356 Papasmurf
Papasmurf's picture

I disagree.  S&P was not forced to rate junk grade MBS AAA. 

Tue, 01/21/2014 - 11:07 | 4351497 tip e. canoe
tip e. canoe's picture

neither was anyone else.

the issue is selective enforcement.

Tue, 01/21/2014 - 09:03 | 4351133 LawsofPhysics
LawsofPhysics's picture

Simply more confirmation of what we all already knew, specifically, when fraud is the status quo, posession is the law.

Tue, 01/21/2014 - 09:10 | 4351145 gwar5
gwar5's picture

Say it ain't so....

 

How the private FED and other big bankers really do things? Threats, extortion, and blackmail using force and coercion with the levers of government, as needed? Gosh, who knew?

Using the DOJ to perform criminal investigations against independent rating agencies that diegn to be honest while consciously avoiding criminal prosecutions of the ongoing crime scene that is Wall Street, eg., MFGlobal and Corzine, is just classic fascism. After the institutions have all been consolidated, then it really trickles down onto the individual.

 

 

 

Tue, 01/21/2014 - 09:10 | 4351148 youngman
youngman's picture

I fell it really has turned with the Obama administration...that Governement is NOW our ENEMY....they are against us....

Tue, 01/21/2014 - 09:12 | 4351150 Racer
Racer's picture

Cheats, thieves and frauds don't like being called out

Tue, 01/21/2014 - 09:13 | 4351152 buzzsaw99
buzzsaw99's picture

they deserve each other. ha ha.

Tue, 01/21/2014 - 09:15 | 4351154 lemarche
lemarche's picture

CRONY MODAFACKER GEITHNER

Tue, 01/21/2014 - 09:20 | 4351155 kenezen
kenezen's picture

Does that word Totalitarian stand for a President who gives a speech and in it he says "If the Congress continues to stand for only dysfunction and delay then, I'm going to move ahead without them. I will do whatever I can without Congress"!!

This from a President that has changed existing law without Congress, has Agencies creating their own laws in contradiction to the rules and has set forth more Executive Order for his period of time than any others. (Several of his Executive Orders violate questionably settled law.)

Perhaps the President should explain what "Whatever I Can without Congress" Is it a Chavez statement before issuing a State of Emergency? This border on open defiance of the Constitution! The president needs to disclaim this and set boundaries for his "CAN" None of the press are touching it.  

By the way! What's Tim's group doing setting up Subsidiaries of Re-Insurance giants in Bermuda? Are they going to Qatar as well? It seems all the rage rgiht now?  I wonder why $$$ "hint"

Tue, 01/21/2014 - 09:17 | 4351156 GrinandBearit
GrinandBearit's picture

Hang this fucking weasel.

Or at least let me put a baseball bat right across his mouth.

Tue, 01/21/2014 - 09:15 | 4351157 trillion_dollar...
trillion_dollar_deficit's picture

Obama is gonna be super pissed when he reads about this in the newspaper today.

Tue, 01/21/2014 - 09:17 | 4351161 the not so migh...
the not so mighty maximiza's picture

s&p should make the US goverment double D-(or whatever), the threat means we can blow up any second if the propaganda is not adhered too

Tue, 01/21/2014 - 11:04 | 4351486 Max Cynical
Max Cynical's picture

Exactly...fight them using their own tactics. "You ether drop the suit or we'll lower your rating every month until it's junk."

Tue, 01/21/2014 - 09:20 | 4351167 Bearwagon
Bearwagon's picture

This is the new normal, people. In the developed representative democracies for a long time even the institutional matrix isn't functioning anymore. At least not in democratic ways. And neither formal. It looks more like well greased gears, running like a clockwork. They've been completely perverted and have become instruments of just keeping in power and supplying the ruling "elites".
Election campaigns are nothing more than spectacles, staged by PR-experts, who theatrically put some political topics on for the populace, while pretending to the people, that they had to decide and choose something. But the populace has nothing to choose, because all issues have been previously picked by the partyleaders and their PR-shills. And not under the perspective, which issues are of great significance to the people. To the contrary, such topics are deliberately ignored.
Instead subjects are chosen, with which those shenanigans hope to win elections. In fact, the populace only is allowed to swallow, what parties decided to serve up. The people have been degraded into ruminants of the parties.
The citizen plays only a passive or even apathetic role, unable to constitute the political conflict the slightest bit. Hidden behind this orchestration of an "election" lies the real political process, which takes place in the form of private interactions between elected governments and  the "elites", who mostly act for the economically strong protagonists.
The participation of the citizens by voting has been substituted for intransparent negotiations, and the democratic process now solely serves the purpose of creating loyalty among the masses.

Ceterum censeo Wall Street esse delendam!

Tue, 01/21/2014 - 10:07 | 4351350 Raging Debate
Raging Debate's picture

Bearwagon - Concise analysis. I was at my MD yesterday and we were discussing Obamacare and how his colleague's insurance premiums and deductable had doubled in California. So this man had voted for Obama twice and still makes excuses as to why he voted that way. Oh yeah, my MD told me his colleague is going without insurance and getting the tax fine.

I mentioned this because people that are considered somewhat intelligent in society are just waking up the very hard way to what our system has become. The population has been very misled off a cliff.

The guy in charge of the treasury not paying his taxes kind of says it all doesnt it? Ya know, I am old enough to realize the depths of our own imperfect human nature but living in a fascist empire of sociopathic scumbags is really depressing.

Tue, 01/21/2014 - 09:22 | 4351169 Save_America1st
Save_America1st's picture

FUCK YOU, Turbo Tax cheat Tim "Timmay!!" Geithner!!!

Timmay's Greatest Hits:  http://www.youtube.com/watch?v=y0ussQX-B6U

Tue, 01/21/2014 - 09:33 | 4351207 Quinvarius
Quinvarius's picture

This is another clear abuse of power by the Obama admin.  It is a crime.  Where is fukhead Holder on this?  Oh yeah.  He is sitting on his ass collecting money in brown paper bags.

Tue, 01/21/2014 - 09:33 | 4351209 semperfi
semperfi's picture

"When the people fear the government you have tyranny.  When the government fears the people you have liberty." -- Thomas Jefferson


"The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government."  --Thomas Jefferson 

"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants." -- Thomas Jefferson


 

 

 

 

Tue, 01/21/2014 - 11:37 | 4351583 KnightTakesKing
KnightTakesKing's picture

Front page of WSJ has a photo that will be representative of the next 10 years: Ukraine outlaws peaceful protests and masked citizens respond with Molotov cocktails. 

Coming to a city near you... Bitchez!

Tue, 01/21/2014 - 09:39 | 4351234 shovelhead
shovelhead's picture

"Quid pro quo, Clarice, Quid pro quo."

Tue, 01/21/2014 - 09:53 | 4351303 zipit
zipit's picture

Shut up, Clarice, that is unless you want Timmy to fling some more baby batter in your direction.

Tue, 01/21/2014 - 09:45 | 4351266 Confundido
Confundido's picture

I don't care if the government becomes totalitarian...I have nothing to hide...

Tue, 01/21/2014 - 10:56 | 4351469 ebworthen
ebworthen's picture

I appreciate the dry subtle hints of rasberry and cocoa in your sarcasm.

Tue, 01/21/2014 - 11:02 | 4351482 Bearwagon
Bearwagon's picture

So ... you already lost everything!

Tue, 01/21/2014 - 09:53 | 4351306 mrdenis
mrdenis's picture

So it was Geithner that shut down the GW bridge ,,,,,,,,,,

Tue, 01/21/2014 - 10:02 | 4351337 Dineroguru
Dineroguru's picture

Little Timmy a crooked thug?  You mean this fine, former head of the NY Fed, the very one responsible for regulating the NY banks when they were leveraging up 70-1 and drinking mortgage-turd kool-aid?  The ex- treasury official, that helped save Goldman while porking the taxpayers and old savers in the land? There must be some mistake!

Tue, 01/21/2014 - 11:39 | 4351586 eclectic syncretist
eclectic syncretist's picture

Anyone remember this Oscar attempting performance by the little scam artist Timmah?

http://www.youtube.com/watch?v=6ZLiu_9Q2FE

Tue, 01/21/2014 - 10:25 | 4351392 Rising Sun
Rising Sun's picture

fuck you Geitner - little grease ball weasel

Tue, 01/21/2014 - 10:49 | 4351454 ebworthen
ebworthen's picture

Nothing like transparent open government of the banks, by the banks, for the banks.

Tue, 01/21/2014 - 10:56 | 4351460 Hulk
Hulk's picture

Its a total  criminogenic environment now.  Failiure in imminent. plan accordingly...

Bill Black interview by Greg Hunter

http://usawatchdog.com/jp-morgans-frauds-are-epicunprecedented-in-world-...

Tue, 01/21/2014 - 10:59 | 4351476 Stuck on Zero
Stuck on Zero's picture

This makes me wonder.  Whatever happened to the kid who said the King had no clothes?

 

Tue, 01/21/2014 - 11:00 | 4351478 BudFox2012
BudFox2012's picture

Now that this scandal has broken, I hope they throw the book at Geitner like they have at others in this administration from past scandals - Fast and Furious, Bengahzi, IRS scandal, and NSA.  Oh wait a minute...

Tue, 01/21/2014 - 11:00 | 4351479 q99x2
q99x2's picture

Where's the list of countries that are accepting American refugees?

I want to go.

Tue, 01/21/2014 - 11:08 | 4351501 BudFox2012
BudFox2012's picture

I have it right here:

Russia, if you have NSA secrets
North Korea, if you are a former NBA player
Iran, if you used to work at Oakridge National Labratory
FSA (Syrai), if you will ride in the back of a pickup truck, shooting your AK47 in the air shouting allah akbar

That's about it.  No one else wants us...

Tue, 01/21/2014 - 11:08 | 4351503 TrustWho
TrustWho's picture

Is this NJ bully politics? I am so confused. Did Christie tell Geithner to play hitman?

Tue, 01/21/2014 - 11:15 | 4351525 Yancey Ward
Yancey Ward's picture

What really got S&P in trouble was McGraw's telling Geithner that he would look into the matter ASAP and thought it might be a Turbotax error.

Tue, 01/21/2014 - 11:18 | 4351532 Reaper
Reaper's picture

Their Geithner swine was squealing.  Holder responded with armed goons and verminous lawyers.

Tue, 01/21/2014 - 11:26 | 4351550 Loucleve
Loucleve's picture

Strange Tyler would forget Egan-Jones.

They DID suspend them for 2 years AFTER they downgraded the US.

Tue, 01/21/2014 - 11:28 | 4351556 MeMongo
MeMongo's picture

Unfortunately this POS is just one of way too many! If this whole house of shit they've erected should ever fall I bet the chaos would be so rampant that not a single one will be held responsibile....Viualize Timmy the Tit lounging dreamily in a hammock somewhere on his own island(:-(

Tue, 01/21/2014 - 11:34 | 4351571 OC Sure
OC Sure's picture

Exercising our 1st amendment right to petition the government for a redress of grievances, let us concur that

"The history of the present [political elite class]is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute tyranny over these states. To prove this, let facts be submitted to a candid world:"

[list usurpations here]

Tue, 01/21/2014 - 11:36 | 4351575 yogibear
yogibear's picture

Corruption in the US government has reached epic proportions. This is what the framers of the US constitution warned about.

One of the reasons for the right to bear arms. There is a huge effort to take away that right by the socialist/communist.

Tue, 01/21/2014 - 11:42 | 4351593 eclectic syncretist
eclectic syncretist's picture

Do you want to see something enlightening.  here!

http://www.youtube.com/watch?v=Z8W6z6xDhMk

Tue, 01/21/2014 - 13:15 | 4351877 tawdzilla
tawdzilla's picture

I don't recall "coercing credit reporting agencies to lie about the mountains of taxpayer debt" as being an enumerated power in Article 1, section 8.  I must have been sick that day of school.

Tue, 01/21/2014 - 14:32 | 4352256 MeelionDollerBogus
MeelionDollerBogus's picture

bottom line is you can't do honest business in the USA if it's with the government.
ESPECIALLY if it's reporting anything negative about the government for the sake of actual business.
Best to just pack up & leave. China will rate US credit more accurately.
This should have been obvious from the get-go.

Tue, 01/21/2014 - 14:58 | 4352368 NoTTD
NoTTD's picture

The correct term for this type of "warning" is "threat".

Tue, 01/21/2014 - 19:22 | 4353532 SmittyinLA
SmittyinLA's picture

we have a criminal partisan govt, yawn, can we get back to Kim kardashians ass now!

Wed, 01/22/2014 - 08:57 | 4354916 MarcusAurelius
MarcusAurelius's picture

The whole notion of a downgrade from AAA to AA+ is moronic to begin with. If the US government were a person their credit would be so bad that it would not even rank. No bank, no sub lender or even a loan shark would touch the person for fear of a complete default. Oh but I forgot accounting rules don't apply to entities that make the accounting rules.......until they do apply. 

 

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