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…
Ten years ago, Congress dismantled the decades-old Glass-Steagall Act, breaking down the firewalls between commercial banks and securities houses, and helping Wall Street firms grow into the too-big-to-fail institutions that exist now. There’s been a great deal of debate about the extent to which the death More…
Sen. Judd Gregg (R-N.H.) ruffled feathers this month when he drafted a detailed strategy for stalling the health reform bill moving through the upper chamber. Yet Gregg is hardly alone, and health-care legislation is hardly the only target of the GOP’s delay tactics.
[Congress1]Since being swept from More…
The finance industry, seeming to forget that it was responsible for the economic turmoil that’s pushed unemployment above 10 percent, is lobbying furiously (and successfully) against Democratic legislation designed to protect consumers and prevent a similar episode in the future.
Yesterday, industry representatives held More…
Equating today’s rising credit card rates to usury, several House Democrats today announced plans to introduce legislation capping credit card rates at 16 percent.
“Things were a lot better for the average person in this country when we had usury caps,” Rep. Louise Slaughter (D-N.Y.), head of the House Rules Committee, said More…
Treasury Secretary Tim Geithner got an earful last week from House Democrats wary of the White House proposal to pay for government rescues of Wall Street firms by taxing healthy competitors only after Washington steps in. The critics want companies to pre-pay instead into a kind of sitting More…
It’s no mystery that Treasury Secretary Tim Geithner is the ultimate Wall Street insider. But it seems that more and more Democrats are losing their patience with what they perceive as his protectionism of the finance industry at the expense of consumers and taxpayers. The latest More…
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