Geithner Must Give S Documents In U.S. Fraud Lawsuit
A federal judge ruled that former U.S. Treasury Secretary Timothy Geithner must hand over documents to Standard and Poor’s relating to the ratings agency’s claim that the United States sued it in retaliation for downgrading government debt. Department of Justice brought a civil fraud lawsuit against S&P in 2013, accusing it of inflating ratings to win more fees from issuers, and then failing to downgrade debt backed by deteriorating mortgage-backed securities fast enough.
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