Geithner called to explain AIG bailout secrecy
Treasury Secretary Timothy Geithner will face a congressional grilling later this month about the suppression of details on deals that funneled billions to big investment banks while he was president of the Federal Reserve Bank of New York.
Lawmakers reacted angrily Friday to revelations in e-mails sent in late 2008 and early 2009 between lawyers for the New York Fed and American International Group Inc. The exchanges show the New York Fed wanted AIG to withhold information about deals that sent billions from the taxpayer bailout of AIG to Goldman Sachs Group Inc., Societe Generale and other major banks. (AP)
