Here’s the New York Fed telling Bloomberg News yesterday that the agency didn’t force the 2008 decision to delay disclosure of AIG payments to other Wall Street firms using taxpayer money.
“Our position has always been that if AIG’s securities lawyers determine that AIG is legally obligated
Here’s White House spokesman Robert Gibbs, responding today to questions about Tim Geithner’s role in the New York Fed’s 2008 decision to censor AIG payments to other Wall Street firms:
Secretary Geithner was not involved in any of these e-mails. These decisions did not rise to his level
Rep. Edolphus Towns (D-N.Y.), chairman of the House Oversight and Government Reform Committee, has invited Treasury Secretary Tim Geithner to testify on his role in the New York Fed’s 2008 decision to hide massive AIG payments to other Wall Street firms.
“More than one year after More…
Yesterday, it was revealed that officials at the New York Federal Reserve — then headed by now-Treasury Secretary Tim Geithner — asked AIG to keep quiet about tens of billions of dollars the insurance giant made to other Wall Street firms after AIG had received $85 billion in More…
Easily the most curious aspect of the AIG bonus scandal that captivated the country last March was that Sen. Chris Dodd (D-Conn.), who’d proposed to stop payment of those bonuses, took the fall when Treasury officials, behind Secretary Tim Geithner, swept onto the scene and altered More…
As a House committee begins tackling major financial regulatory reform, consumer advocates find themselves shaking their heads over why something that should have been a slam dunk — reining in the financial industry in the wake of the subprime crisis — has turned into a hard-fought battle More…
The latest Quinnipiac University poll results are in for Sen. Chris Dodd’s (D-Conn.) re-election bid — and they’re being cast as a win for the senator, even though he still trails a possible Republican challenger. The survey found that nearly half of Connecticut voters don’t trust Dodd More…
Anyone who watched AIG bonus-gate with any interest is aware that it was Sen. Chris Dodd (D-Conn.) who took the fall for changing legislation that would have reined in those controversial payments. Anyone following a bit more closely, though, knows also that Dodd made those changes only after White House More…
Just how much did top AIG executives pocket last year in bonuses? Politico reports the total awards paid out were four times higher than previously reported, based on new responses from AIG to queries by Rep. Elijah Commings (D-Md.).
AIG now says it paid out more than $454 million
Long before the AIG bonus scandal erupted this month, Rep. Brad Sherman (D-Calif.) was at the forefront of (failed) congressional efforts to install stricter pay limits for employees of bailed out banks. Sherman was an early critic of the Troubled Asset Relief Program, arguing last fall that it didn’t More…
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