The Noose Tightens For Treasury Tim
Geithner Called to Testify Over AIG Counterparty Cover Up
Will appear before the House Oversight Committee the week of January 18.
The House Oversight Committee is responding to news that key details about AIG's bailout were suppressed by the Federal Reserve Bank of New York while Geithner was its president. A growing chorus of lawmakers says Geithner must explain his involvement in deals that diverted billions from AIG's bailout to Goldman Sachs and other big banks. New York Democrat and committee Chairman Edolphus Towns says the hearing will examine the rise and fall of AIG and its business partners. source: the hill -----
Barney Frank is considering holding similar hearings in his committee.
Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, says his committee may hold hearings about Tim Geithner and his role in supressing disclosure of AIG bank payments.
Reports from Thursday indicated that the New York Fed, then headed by Geithner, urged AIG not to disclose that it had paid banks 100 cents on the dollar for "credit default swaps" after its bailout.
"Did they have the authority to tell AIG to pay less than 100 percent or not?" Frank said in an interview with Business Week. "That's an interesting debate. But the important point to make is that we are making sure that that debate will never happen again."
Frank said he still supports Geithner.
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That's 1 down, and 1 to go. Do not forget about Stephen Friedman.
Jan 9, 2010 at 11:08 AM
Reader Comments (12)
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Ken...this is the 2nd time i've warned you...no Louis Farrakhnan...under any circumstances...
http://www.businessweek.com/bwdaily/dnflash/content/jan2010/db2010018_994080.htm
The New York Fed asked for a waiver, which, after about 2½ months, the Fed granted. While it was weighing the request, Mr. Friedman bought 37,300 more Goldman shares in December...
http://online.wsj.com/article/SB124139546243981801.html
http://www.businessweek.com/news/2010-01-08/geithner-asked-to-testify-on-aig-e-mails-by-towns-correct-.html
White House: Geithner 'not involved' in latest AIG flap
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bullshit...
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james...wanted to make sure you saw the answer to your question....
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Just in case anyone forgot, Geithner claimed summer camp tuition on his tax returns as "dependent child care" payments.
This is news to me...i must have missed that during his confirmation
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thanks, DB. I got it.
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Just in case anyone forgot, Geithner claimed summer camp tuition on his tax returns as "dependent child care" payments.
This is news to me...i must have missed that during his confirmation
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I thought it was a joke or a misleading version of what really happened. I checked it out the other day and he really did it. WSJ, NYTimes, maybe a couple other places all reported it. Apparently, his tax preparer warned him about it, too.
He should have been sent packing just for that. What a loser.
http://voices.washingtonpost.com/postpartisan/2009/01/geithner_claimed_camp_as_a_chi.html?hpid=opinionsbox1
http://www.mcclatchydc.com/homepage/story/59703.html
http://www.cbsnews.com/stories/2009/01/24/ap/politics/main4750892.shtml