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GOP Lawmaker: NY Fed Must Turn Over AIG Documents

Wednesday, 20 Jan 2010 03:46 PM

A Republican lawmaker wants the Federal Reserve Bank of New York to turn over more documents for a House probe into the bailout of American International Group Inc.

Rep. Darrell Issa, R-Calif., says the New York Fed must share additional documents to satisfy a subpoena from the House Committee on Oversight and Government Reform. Issa is the committee's top Republican.

The committee is investigating why officials didn't demand concessions from big banks that were owed money by AIG. Lawmakers are asking why officials wouldn't name the banks that benefited from AIG's "backdoor bailouts."

The AIG bailout was managed by the New York Fed under now-Treasury Secretary Timothy Geithner. Geithner is scheduled to testify at a committee hearing next week.

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A Republican lawmaker wants the Federal Reserve Bank of New York to turn over more documents for a House probe into the bailout of American International Group Inc.Rep. Darrell Issa, R-Calif., says the New York Fed must share additional documents to satisfy a subpoena from...
US,AIG,New,York,Fed
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2010-46-20
Wednesday, 20 Jan 2010 03:46 PM
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