More BULLYING and ABUSE of POWER from Obama!!

Democrats SHOCKED into SILENCE.

Hardball: Hell hath no fury like an administration embarrassed by a top credit-rating agency stating the obvious that its perilous spending policies and rising debts warranted a downgrade just like any poorly run business.

Speaking at a fundraiser in Philadelphia on June 13, 2008, candidate Barack Obama said of his Republican opposition: “If they bring a knife to the fight, we bring a gun.”

In this case, in August 2011, Standard & Poor’s brought an embarrassing downgrading of U.S. debt to AA+ from AAA in advance of the president’s re-election bid, the first such reduction in U.S. history.

In response, the administration brought a lawsuit in 2013 charging fraud and seeking $5 billion in fines from S&P for the credit ratings it had attached to bonds supported by subprime mortgages in the years leading up to the financial meltdown.

At the time, it smacked of vendetta. As we noted last year, S&P’s subprime securities ratings were virtually identical to those of Moody’s and Fitch, yet the government singled out S&P for prosecution simply because it was the only one of the big three to pull the trigger on the downgrade.

The vindictive nature of the government’s lawsuit was confirmed Tuesday when lawyers for McGraw-Hill, S&P’s parent, filed an affidavit from the company’s chairman, Harold McGraw III, stating that on Aug. 8, 2011, mere days after the downgrade, he got a call from Timothy Geithner saying S&P’s deed would not go unpunished.

“He said that ‘you have done an enormous disservice to yourselves and to your country,’ and that S&P’s conduct would be ‘looked at very carefully,'” McGraw said. “Such behavior could not occur, he said, without a response from the government.”

The filing to U.S. District Judge David Carter asked for an order that the Justice Department hand over all related documents for its “retaliation defense.”

S&P maintains the government was initially looking at all three major credit-rating companies and targeted S&P exclusively only after the McGraw-Hill unit downgraded U.S. debt.

“Only S&P Ratings downgraded the United States and only S&P Ratings has been sued by the United States, even though the S&P ratings challenged by the United States were no different than those of at least one other rating agency,” the court filing states.

We, too, would like to see those documents. This dwarfs Chris Christie’s “Bridgegate” as a real and dangerous example of political bullying and abuse of power by the Treasury.

It amounts to a targeting of political enemies, not unlike the targeting of the Tea Party and other conservative groups by the IRS, which is overseen by the Treasury Department.

This is the Chicago Way as brought to Washington, D.C., by the community organizer from Chicago, President Barack Obama, and practiced by his enforcer, Timothy Geithner.

Read More At Investor’s Business Daily: LINK

Graffiti Forensics

January 24, 2014

Thanks for posting this. We really are under a state of tyranny under the Obama administration. And too many people are either complicit or not paying attention enough. But we’re not talking about the ‘Chicago Way’ of doing things as much as we are people with bad intentions, oppressive agendas, and who can’t be trusted. The term ‘Obamanazis’ comes to mind.

SHARPSkinkid

1) [Graffiti Forensics] is clearly retarded. That’s the only explanation. I find his comparison of the Obama administration to the Nazi party to be patently offensive it almost makes me happy his wife left him. 2) You do realize the downgrade was the Republican’s fault, right?

January 25, 2014

Hon, when you make such blatant personal attacks, it doesn’t really bolster your opinions as being very strong… I think it’s kind of disingenuous to blame the downgrade on Republicans while Democrats were in control of 2/3rds of the Government. Is Obama responsible for ANYTHING?? Using your logic, I can start blaming Al Gore or even Hillary Clinton for both the Afghanistan and Iraq wars.

January 26, 2014

I find comparisons to Nazis to be patently offensive. If the person in question hasn’t begun genocide it’s a spurious, offensive comparison and the person making it should be ashamed. The downgrade happened because there was no evidence that there was going to be any raising of revenues (taxes). The Democrats were willing to cut spending but the GOP absolutely won’t raise taxes period. That’s

what forced the downgrade. Yes, I think that you can hold Hillary Clinton partly responsible for the wars in Afghanistan and Iraq because she voted for the resolutions that lead to them. Not that I think the war in Afghanistan was a bad idea.

Spoo

That NAZIism is invoked to describe the Liberal Obama agenda is completely consistent with historic fact. NAZIs were socialists. They were of the Left. The downgrade in the quality of US Treasury bonds is due to the fact that the Federal government knows no boundaries in spending, and has no ability to ever repay (in real dollars) the money that it has borrowed. The notion that there was “no evidence that there was going to be any raising of revenues” ignores the fact that further increases in taxes will result in a decrease in revenues.

January 27, 2014

I was reminded again yesterday of the creepy German Nazis when the History Channel showed a string of documentaries about them. It would seem that while some aspects of Nazi history are quite obviously admonished and condemned, other methodologies they imposed against their poor citizens have been adopted by modern political enterprises like the Obama administration. Like it or not, theObama administration and many of their helpers have earned the description of Obamanazis for a variety of reasons. None of which are as comical as the Seinfeld ‘Soup Nazi’ episode.

[Spoo], they were fascists, which is not socialst. Well let’s look at what S&P said about the downgrade, shall we Alan?

“Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.”

So, are you ready to admit you’re wrong, [Spoo]? Or will you continue to be a stubborn old fool quietly being consumed by dementia and racism?

[Spoo] I’m honestly impressed that you’ve managed to hold off the fog of senility long enough to parrot the long-discredited book by Jonah Goldberg as though it’s your own idea. Unfortunately you just look like a long-haired California Raisin puppet.