Geithner Slams S&P’s Poor Judgment
The credit rating agency Standard & Poor’s showed “terrible judgment” in lowering the U.S. government’s credit rating, Treasury Secretary Timothy Geithner (pictured w/President Obama) said Sunday. “They’ve handled themselves very poorly. And they’ve shown a stunning lack of knowledge about the basic U.S. fiscal budget math,” Geithner said in his first public comments about the credit rating decision. Interviewed on CNBC, Geither said U.S. Treasury securities were just as safe now as they were before S&P announced its downgrade. He predicted that China and investors would remain strong purchasers of U.S. government debt. Republicans have blamed President Barack Obama for the first-ever downgrade of the government’s credit rating/Associated Press. More here.
Question: Who's to blame for Standard & Poor's downgrade of the U.S. government's credit rating?