Geithner’s emails supoenaed in AIG inquiry

Interesting.

The House Oversight and Government Reform Committee is seeking information on payments made to major global banks including Goldman Sachs, Morgan Stanley, Barclays, Bank of America, Deutsche Bank, and Societe Generale.

Mr Geithner was president of the New York Fed at the time that decisions involving the money from the bail-out of failed insurer American International Group (AIG) were taken.

The panel is seeking emails, phone logs and meeting notes from the New York Federal Reserve and Mr Geithner, among others, on the discussions held ahead of the bail-out decision.

“Questions remain surrounding AIG’s credit default swap counterparties and why these companies received full compensation, when the best they could have hoped for in a bankruptcy proceeding was perhaps 30 or 40 cents on the dollar,” the panel said in a statement.
I hope everything comes back o.k Timmy, otherwise I smell a resignation in the air.

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Published in: on January 15, 2010 at 1:24 pm  Leave a Comment  
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