Lawmakers Press for Geithner AIG Testimony

Lawmakers Press for Geithner AIG Testimony

Washington – U.S. lawmakers on Friday pressed for Treasury Secretary Timothy Geithner to testify on whether the New York Federal Reserve Bank improperly pressured AIG to withhold information on payments it made to banks after its government bailout.

The requests came even as the Obama administration and the New York Fed rushed to say that Geithner, who headed the reserve bank at the time of the AIG rescue, was unaware of any emailed advice by Fed lawyers to limit disclosures.

Edolphus Towns, chairman of the House of Representatives Oversight and Government reform committee, said he asked Geithner to testify on the matter the week of January 18 at a hearing to examine emails between New York Fed and AIG lawyers that show AIG was advised to withhold “key details” of the bailout terms from the public.

Click here to read more.