Geithner Defends AIG Payments

27 Jan 2010

Timothy Geithner, secretary of the U.S. Treasury, defended his actions and those of the Federal Reserve Bank of New York, which he previously headed, regarding 100% payouts of American International Group’s credit default swaps to big bank counterparties.

Timothy Geithner, secretary of the U.S. Treasury, defended his actions and those of the Federal Reserve Bank of New York, which he previously headed, regarding 100% payouts of American International Group’s credit default swaps to big bank counterparties. Testifying before the House Oversight and Government Reform Committee, Geithner ...

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