NEW YORK: Former US Treasury Secretary Timothy Geithner angrily warned the chairman of Standard & Poor's parent that the rating agency would be held accountable for its 2011 decision to strip the US of its coveted "triple-A" rating, a new court filing shows.
Harold McGraw, the chairman of McGraw-Hill Financial Inc, made the statement in a declaration filed by S&P on Monday, as part of its defense against the government's US$5bil fraud lawsuit over its rating practices prior to the 2008 financial crisis.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!