Federal Reserve officials Tuesday launched a vigorous defense of their dealings with American International Group, calling for a congressional audit and denying any inappropriate action with respect to payments the bailed-out insurer made to banks. Fed Chairman Ben Bernanke invited …
U.S. Treasury Secretary Timothy Geithner said Thursday the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments made to banks. In his …
The New York Federal Reserve Bank under Timothy Geithner urged insurer AIG in late 2008 to limit disclosures about its payments to banks after getting a $180 billion government bailout, emails released Thursday showed. The email exchanges, between the New …
The U.S. Treasury is expected to propose within days the creation of a “systemic risk regulator,” probably the Federal Reserve, to oversee banking and market problems that could threaten the economy. On both sides of the Atlantic, “tunnel vision” is …
