Saturday, January 09, 2010
Key details about AIG's bailout were suppressed by the Federal Reserve Bank of New York
Treasury Secretary Timothy Geithner is once again in the spot light about his role in the massive bailout of failed insurer American International Group Inc. 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.
Geithner made head lines previously when it was discover that the man with the silver foot up his arse had failed to pay his federal income taxes while working at the federal reserve. Critics at the time questions his credibility as the nations number one tax collector ,when he seemed to have so inexplicably failed to pay his own taxes.
The public was lead to believe the left wing anti business Geithner was the "man for the job" , "the job" meaning bailing out failed financial firms for your friends and not running the treasury for the benefit of the Amercian people.
Recent discovered emails seem to imply a cover up by the New York FED and 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. The New York Fed claims the the FED and Treasury say Geithner was not made aware of the e-mails that pushed for more secrecy.