Wow, talk about corrupt

[spence]

Originally Posted by JohnnyD

Citibank received $300B in 2008. Again, it was received under Bush, so no, I'm not kidding.
U.S. Agrees to Rescue Struggling Citigroup - WSJ.com

That...and I believe S&P was already under investigation for ratings abuse on mortgage backed securities. Quite likely their president wouldn't have lasted long anyway.

As for picking a replacement that had received bailout money...didn't most of them?

The conspiracy theorists would say the downgrade was retrobution for the investigations.

-spence

[scottw]

let's see, what seems more plausible? S&P Downgrades America as an unnecessary and in your face threat to the Obama Admin over an investigation by the Justice Dept which they "swear" began prior to the downgrade...

or a really angry Obama Admin and their notoriously out of control Justice Department launch and investigation of S&P as retribution for defying them and downgrading America...oh, and there's the angry dems in the Senate too...

plenty of kisses from the Obama Admin to Citigroup Johnny

U.S. gave up billions in tax money in deal for Citigroup's bailout repayment

Obama Advisers' Citigroup Ties Raise Questions - NYTimes.com