Gretchen Morgenson and Louise Story’s New York Times piece yesterday was a thorough explanation of Goldman Sachs’ machinations that contributed to the collapse of AIG and the government’s perceived need to jump in and pay for everything without negotiating prices.
But unless you’re well-versed in the modern minutiae More…
To hear Treasury Secretary Tim Geithner tell the tale, the federal officials negotiating the taxpayer bailout of American Insurance Group had no choice but to provide full payment to the company’s trading partners, including Goldman Sachs.
“There was no way, financial, legal, or otherwise, we could have imposed More…
Two messages worth noting from Treasury Secretary Tim Geithner’s interview with CNBC yesterday: (1) Although he was the head of the New York Federal Reserve in late 2008, he had nothing to do with the decision to pay $62 billion to Goldman Sachs and others through More…
Here’s the letter from Rep. Edolphus Towns (D-N.Y.), chairman of the House Oversight and Government Reform Committee, asking Treasury Secretary Tim Geithner to testify later this month on the more than $60 billion filtered to Goldman Sachs and other Wall Street giants as part of the AIG bailout. Bloomberg News More…
Rep. Edolphus Towns, chairman of the House Oversight and Government Reform Committee, will subpoena the New York Federal Reserve for documents related to the AIG bailout, the New York Democrat announced today.
The New York Fed has been under close scrutiny since last week, when it was revealed More…
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
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…
rss