"Geithner may be focus in AIG inquiry" by Associated Press | January 13, 2010
WASHINGTON - Treasury Secretary Timothy Geithner came under increased scrutiny yesterday when a key congressman said he would subpoena the Federal Reserve Bank of New York about bailout decisions made on Geithner’s watch.
Better be checking that rear-view mirror on the way home.
Related: Geithner Thanks Goldmans For Buffett
MSM Xmas Gifts: To AIG and GMAC
It's Good to be a Bankster
Representative Edolphus Towns, Democrat of New York, said he will seek documents related to the bailout of American International Group He is chairman of the House Oversight and Government Reform Committee; it’s investigating deals that diverted billions of AIG bailout dollars to banks, including Goldman Sachs Group.
Related: Lying Looters Large and Small: AIG's Excesses
Geithner was president of the New York Fed at the time. The AIG deals might have cost billions more than necessary because Geithner did not demand concessions from the banks, an earlier watchdog report said.
Why would he do that when he was doling out loot to friends?
I'm sorry, readers, I mean saving our economic system.
The committee has been investigating e-mails from New York Fed lawyers telling AIG not to disclose details about the deal. The e-mails were released last week by California Representative Darrell Issa of California, the committee’s top Republican.
Administration officials have defended Geithner in the AIG matter by saying he was not involved in the e-mails released last week. But the planned subpoena makes clear that the committee’s inquiry involves separate decisions Geithner made.
The "no-change" administration -- which is good, I mean.
Everything's great, happy as a clam.
White House spokesman Robert Gibbs told reporters Friday that Geithner “wasn’t on the e-mails that have been talked about and wasn’t party to the decision that was being made.’’
Geithner said he recused himself from decisions about AIG after being appointed Treasury secretary. The New York Fed’s general counsel, Thomas Baxter, wrote to Issa that Geithner “played no role in, and had no knowledge of, the disclosure deliberations and communications referenced in those e-mails.’’ Representatives of the Treasury, Federal Reserve, and New York Fed would not comment on the expanded investigation.
Why expand the thing? Geithner had nothing to do with it they said.
--more--"
Why not cut the guy a break? He's coming clean!
WASHINGTON - Treasury Secretary Timothy Geithner agreed to testify before a House panel investigating why the Federal Reserve Bank of New York asked insurer American International Group to limit disclosures of the government’s financial rescue to investors, a lawmaker said....
The House Oversight and Government Reform Committee is investigating why New York Fed lawyers asked New York-based AIG not to disclose payments to counterparties, including Goldman Sachs Group, to settle derivative contracts swaps in a December 2008 regulatory filing.
Because they knew we would get angry -- even though it was a necessary step to save the economy?
A spokeswoman for Towns said she couldn’t confirm plans for Geithner’s appearance. A Treasury spokesman didn’t immediately return an e-mailed request for comment.
Okay, so we don't know.
--more --"
Heck, I wouldn't blame him for not showing up. It's not like he is like the last guy.
"Paulson, ex-Fed official added to AIG probe" by Associated Press | January 16, 2010
WASHINGTON - A House committee is broadening its probe of secretive bank bailouts to include former Treasury Secretary Henry Paulson and former Federal Reserve Bank of New York chairman Stephen Friedman.
Related: Lying Looters Large and Small: Paulson's Puppet Masters
The Committee on Oversight and Government Reform has invited Paulson and Friedman to testify....
That's a subpoena?
Lawmakers want to know more about deals that funneled billions from AIG to banks including Goldman Sachs Group Inc. Friedman is a Goldman director and resigned from the New York Fed after concerns he had conflicts of interest.
Yeah, I believe we call them middle men out here in the sticks -- not that there is anything wrong with that.
Related: The Biggest Bonuses of All Time
Here Comes Santa Claus' Sleigh
Hey, I'm happy they are doing well.
An earlier report said the bailouts might have cost taxpayers billions more than necessary because officials did not demand concessions from the banks.
Hey, but that's all right with me.
The bailouts were managed by the New York Fed under the leadership of Treasury Secretary Timothy Geithner. Geithner has defended the deals.
Yeah, so get off his back. He's got work to do still.
--more--"
Where the Bank Bonuses Came From
Defending the Fed
Someone has to!
