Geithner: S&P showed terrible judgment

Treasury Secretary Timothy Geithner, left, and Elizabeth Warren, center, listen to President Barack Obama announce the nomination of former Ohio Attorney General Richard Cordray, to serve as the first director of the Consumer Financial Protection Bureau (CFPB), Monday, July 18, 2011, in the Rose Garden of the White House in Washington. (AP Photo/Pablo Martinez Monsivais)

August 8, 2011 8:06:28 AM PDT
The credit rating agency Standard & Poor's showed "terrible judgment" in lowering the U.S. government's credit rating, Treasury Secretary Timothy Geithner said Sunday.