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Paulson Asked to Testify at AIG Bailout Hearing With Geithner
Hugh
Son
Bloomberg
Saturday, January 16th, 2010
Former Treasury Secretary Henry Paulson has been asked to join
his successor Timothy Geithner in testifying before a House
panel examining bailout payments to American International Group
Inc.’s trading partners.
Paulson was invited to a Jan. 27 hearing set by Edolphus Towns,
chairman of the House Oversight and Government Reform Committee,
about the decision to fully reimburse AIG’s bank counterparties
for $62.1 billion in derivatives. Stephen Friedman, the former
Federal Reserve Bank of New York chairman who serves on the
board of Goldman Sachs Group Inc., was also asked to appear,
Towns said in a statement yesterday.
“Chairman Towns is well aware of the fact that President
Bush’s Treasury secretary orchestrated this bailout,”
Jenny Rosenberg, a spokeswoman for the New York Democrat, said
in an e-mail explaining why Paulson was invited.
The request widens the probe into what lawmakers have called
a “backdoor bailout” of banks that benefited from
the $182.3 billion U.S. rescue of AIG. Geithner, who ran the
New York Fed when AIG was saved in 2008, agreed to testify before
the committee after Darrell Issa, a California Republican, released
e-mails last week showing that the New York Fed asked AIG to
withhold data about bank payments.
Full
article here
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