Standard & Poor’s, the only ratings agency charged by the US government with fraud over its ratings of mortgage-backed securities that ultimately imploded the economy in 2008, is seeking records of conversations that took place between then Treasury Secretary Timothy Geithner and President Barack Obama to bolster claims that the government is punishing S&P for its historic downgrade of US government debt in 2011. In the spring of 2011, those closely watching the US debt crisis, hedge fund managers among them, had their eyes keenly focused on negotiations between Republicans and Democrats to determine the potential for a political compromise…
S&P Claims US Fraud Case Is Punishment, Seeks Conversation Records
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.