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« Fannie Mae Asks For ANOTHER Bailout, China Blasts U.S. 'Debt Addiction', Saudi Stock Market First To PLUNGE On U.S. Downgrade, GOP Wants Geithner Fired, G-7 Plans Action In Wake Of Downgrade, BofA Fraud Claims Rise | Main | PHOTO OF THE YEAR - Mt. Debtmore, USA »

Geithner: No Risk U.S. Will Lose AAA Credit Rating - EVER

UPDATE - Geithner gets it wrong again as S&P downgrades U.S. AAA

Video - Tim Geithner Speaks Too Soon - April 25, 2011

Geithner Downgrades His Own Credibility to Junk

By Jonathon Weil

Fox Business reporter Peter Barnes began his televised interview with Treasury Secretary Tim Geithner two days ago with this question: “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.

It’s enough to make you wonder: How could Geithner know this to be true? The short answer is he couldn’t.

All you have to do is read the research report Standard & Poor’s published on April 18 about its sovereign-credit rating for the U.S., and you will see it estimated the risk of a downgrade quite succinctly. “We believe there is at least a one-in-three likelihood that we could lower our long-term rating on the U.S. within two years,” said S&P, which reduced its outlook on the government’s debt to “negative” from “stable.”

There you have it: Geithner says the chance of a downgrade is zero. S&P says the odds it will cut its rating might be greater than one out of three. So who are you going to believe? Geithner? Or the people at S&P who actually will be deciding what S&P will do about S&P’s own rating of U.S. sovereign debt?

It would be one thing to express the view that a downgrade would be unwarranted, or that the chance of it happening is remote. Either of these positions would be defensible. Geithner went beyond that and staked out an absolutist stance that reeks of raw arrogance: There is no risk a rating cut will occur. He left no room for a trace of a possibility, ever.

Continue reading at Bloomberg...


Ratigan nails him on his prediction...

Tim Geithner Making Predictions  - U.S. Will Never Lose It's AAA Credit Rating!

Start watching at the 3:20 mark.



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Reader Comments (12)

the crying game...


Wall Street dealers warn over debt ceiling
Apr 26, 2011 at 1:53 PM | Registered CommenterDailyBail
U.S. home prices fall 1.1% in February

Housing sector comes dangerously close to double-dip downturn

Apr 26, 2011 at 1:54 PM | Registered CommenterDailyBail
Apr 26, 2011 at 2:06 PM | Registered CommenterDailyBail
Hey Tim ,how about getting rid of the Fed.Maybe you wouldn't be passing out trillions to them for a deficit ,that's not necessary you know the interest we pay to them for printing our money worthless money at that .your job is Sec. of Treasury isn't it think you could recommend this to congress .its in the the constitution is it not ,congress can do this job ,can,t they .come on Tim you could help this along .you know its the right thing to do.but there's one problem isn't there, let me guess Wall street Corp. and last but not least, oh yes the Banks .God forbid we Piss them off .time to shake this problem off the American Peoples back, like a bad case of fleas ,so at least we have a fighting chance to get it right this time .i know you might not be here after 2012 ,come on at least make it look like you care about the little guy .your always talking about us .and how we were doing so well, until all this happen.i think i remember you being part of that Admin. too .come on Tim you know its the right thing to do .i can point you towards a few Rep. say Ron Paul for example he could use a little help with his bill .oh by the way are you Republican or Democrat .can,t figure you out or do you play both sides of the street .well anyway good luck to you .oh wait you do get paid for this don't you well don,t just sit there get to work ..
Apr 27, 2011 at 12:48 AM | Unregistered CommenterIKe1952
The most savage cross-examination mutilation I ever saw happened to a witness who was asked whether such-and-such was possible. The witness was a retired engineer from BFE who'd been goaded and riled up into taking categorical positions about events that had transpired some 20 years earlier.

The poor guy answered that it was "not possible" repeatedly.

What a fool, I thought at the time. He's been over-coached to such an extent that he knew one and only one thing--the party line, to the point where he couldn't even really comprehend the question that had been put to him.

For a sitting United States Secretary of the Treasury to repeatedly state that there is "no risk" of ANY contingency in the future is really all you need to know about the intellectual capacity of this country's leadership: they are brain dead.

Jesus, who on earth assembled this collection of shitheads?
Aug 6, 2011 at 1:55 AM | Unregistered CommenterCheyenne
Hasn't China already downgraded us?
Aug 6, 2011 at 3:02 AM | Unregistered CommenterS. Gompers
History In the Making – U.S. DEBT DOWNGRADED – Should We Panic?


Bill Maher talks to Christina Romer, ex-chair of President Obama's Council of Economic Advisers:

MAHER: Excuse my language, but we used to do a segment on this show called "How F**ked Are We?" ...Just before we went on the air, they said our (credit) rating got downgraded. ROMER: So, um, pretty DARN f**ked?

Aug 6, 2011 at 11:22 AM | Unregistered CommenterLiberatedCitizen
The jig is UP....CHUMP!!!!

"Shiteheads"-I concur Cheyenne........AB
Aug 6, 2011 at 12:24 PM | Unregistered Commenterain't bullshitt'n
Now the S&P...
Aug 6, 2011 at 12:52 PM | Unregistered CommenterS. Gompers
Cheyenne, back in the early 1980s, I volunteer worked over 40 hours a week for Rep. Mike Lowry(D-WA) for senate at the campaign office in Seattle in the 'L' shaped office downtown. To prove an easily argueable solidarity with the actual democratic party in Seattle, one member or another of Sen. Henry Jackson's staff, who included Paul Wolfowitz, Eliot Abrams, a perpetually lost looking Doug Feith, and a very evil looking spector called Richard Perle, would stop by for a 'token appearance' to indicate party solidarity. But their campaign work amounted to nothing.

I swear this group held parties of a far less than savory nature at The Aloha apartments, but that is another story. Conduct included more than influence from the local satanic church. Please see available info on satanic groups to get an idea of what I speak. What happened at these parties was independently relayed by victims and other witnesses. Some very self-indulgent and sick acts requiring Seattle Police behavior modification on at least one occasion I know of.
Tim Geithner was hanging around these neocon people in a professional capacity during this time, as an intern I believe.
I would now have to say he has been trained as part of the machinery to financially A-bomb the U.S. as the other facets of concerted attacks procede. You people do not seem to be getting my messages desribing these attacks as all being connected by the activities of a certain group for the benefit of the New World Order (NWO=OWO+IMF+CFR+ The Fed). American football uses a ball the shape of the eye at the top of the pyramid for a reason. America does not know 'the game' which is economic war(using HAARP, 9-11, Maconda oil well blow out, Fukushima, derivative fraud, ARM fraud, hedge fund fraud, etc.), and is getting beaten about 222-0. America must be made aware of these ongoing concerted attacks and Geithner's place as an accomplice . When his impact is realized, it will be extremely destructive.
I was the top 'A' in my college logic class by a wide margin and have been into party politics for most all my life. People are reacting v-e-r-y-s-l-o-w-l-y to conditions as they deteriorate, like idiots with overextended credit in the hula-hoop spare parts business. The bad guys are on this like cat burglers. Congress should be kicked repeatedly in a legal manner. But kicked.They just lay there and mewl.

Mr. Ratigan, you are one of my heroes. I listen to as many of your video lectures and commentary as I can find. The SEC and FTC have joined the pirates (Duh.) and we must wrest control of the ship from the agents of the castles. Criticize Geithner as he beats the hell out of the American financial ship of state with the others. He has proclaimed himself an enemy of the American people by his conduct which he knows is destructive. He is doing what comes natural to a vampire. A vampire with a dynamite fetish.
Aug 6, 2011 at 8:44 PM | Unregistered CommenterHoward T. Lewis III
I would not expect him to day anything less in his tone that carries a posative message. The reference of continually laying back on our laurels as a country this is expected and always have done the right thing is tireing to listen to. Referencing dues owed dated back the last ten years as an issue/problem to be dealt with may be said with true intentions. Not mention of current reasoning for spending money for a war we had no business being in to begin with as President Obama once was so very adamant about, amung the many other issues is nothing more than cleaver on his part answering tough questions.

I do agree that people will listen to actions, not words in the end is true. However his record speaks volumes that anything he does should be in question.
Aug 7, 2011 at 3:18 AM | Unregistered CommenterDave

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