You are using an outdated browser. Please upgrade now to a modern browser in order to benefit of all our site's features: Chrome, FireFox, Opera, Safari or Internet Explorer. [Close]

The Official Blog of Fox News Channel

White House Accused of Using Massive Lawsuit as Political Retaliation

As seen on The Kelly File

There are new claims that the Obama administration filed a multi-billion dollar lawsuit as political retaliation against a company that didn’t do what the president wanted.


Glenn Beck to Cuomo: "Governor, Let Me Tell You Something..."


The financial services firm, Standard & Poor’s, threw down a stunning challenge in court claiming that former U.S. Treasury Secretary Timothy Geithner threatened the chairman of S&P’s parent company in a phone call that warned of consequences after the downgrade came.

It came just days after S&P angered the White House by downgrading the U.S. credit rating in the middle of the 2011 debt ceiling debate.

Harold McGraw III said, according to the sworn legal declaration, “[Geithner] said that, ‘you have done an enormous disservice to yourselves and to your country.’”

He went to attribute the following threats from Geithner, “S&P’s conduct would be ‘looked at very carefully’ he said. Such behavior could not occur, he said, without a response from the government.”

The Justice Department filed a $5 billion dollar fraud lawsuit about a year ago, accusing S&P of lying about the credit worthiness of complicated financial instruments in the run out to the 2008 financial crisis.

S&P believes the lawsuit is meritless. So is this a case of political retribution? Watch The Kelly File analysis above. 


Supreme Court to Hear Forced Labor Union Case


Welfare for Weed: Colorado Allows EBT Withdrawals at Pot Shops


 

Leave a Comment0

Today's Front Page Stories

On Fox News Channel

All Times Eastern

7
P

Lawmakers ready for vacation,Obama ready to take action. Can Congress fix immigration in time? It's a can't-miss On The Record.

8
P

An illegal alien kills a police officer in Arizona. A University of California professor attacks pro-lifers. Plus, Dennis Miller exposes welfare waste! Don't miss The O'Reilly Factor.

9
P

The Kelly File goes inside a new twist in the IRS scandal that could change everything! Will someone finally be held accountable? 

Don't want to keep checking back here for the latest from Fox News? That's cool. We'll come to you ...

Connect with Fox News

Subscribe

Stay connected with the most-trusted name in cable news through exclusive videos, blogs, polls, contests and behind-the-scene details.

Get More Fox!

Greta Is Wired!

GretaWire.com is the official blog of Greta Van Susteren. Get Greta’s breaking news alerts, pictures, videos, polls, and behind-the-scenes exclusives. Plus, speak out on open threads, as well as the live chat page. Connect to the GretaWire community ... and to Greta herself!

Fox News Presents: 'My America with Elisabeth Hasselbeck'

Fox News Channel presents an exciting new feature series, My America with Elisabeth Hasselbeck. From the quirky to the inspirational, "My America" reveals who we are as a nation – driven, passionate and uniquely American. Watch the latest installment, an up-close look at the beloved Oscar Mayer Wienermobile!