Treasury Secretary Timothy Geithner ripped Standard & Poor’s two days after the ratings agency downgraded US debt, saying the stunning move was based on a “lack of knowledge” about the nation’s finances.
Geithner also said the debt crisis presents Congress with a chance to “earn back confidence of investors around the world” and he reiterated his support for President Obama, who asked Geithner to stay on even as calls intensified over the weekend for his resignation.
“S&P has shown really terrible judgment and they’ve handled themselves very poorly,” he said in an exclusive interview with CNBC. “And they’ve shown a stunning lack of knowledge about basic U.S. fiscal budget math. And I think they drew exactly the wrong conclusion from this budget agreement.”
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