[spence]

Originally Posted by JohnnyD

Citibank received $300B in 2008. Again, it was received under Bush, so no, I'm not kidding.
U.S. Agrees to Rescue Struggling Citigroup - WSJ.com

That...and I believe S&P was already under investigation for ratings abuse on mortgage backed securities. Quite likely their president wouldn't have lasted long anyway.

As for picking a replacement that had received bailout money...didn't most of them?

The conspiracy theorists would say the downgrade was retrobution for the investigations.

-spence