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Paulson Asked to Testify at Hearing on AIG Payments to Partners
Wall Street Journal ^ | Jan. 16, 2009 | Sudeep Reddy

Posted on 01/16/2010 1:44:50 PM PST by La Enchiladita

WASHINGTON—The chairman of the House Oversight and Government Reform Committee asked former Treasury Secretary Henry Paulson to testify at a hearing later this month focusing on payments to trading partners of American International Group Inc.

Rep. Edolphus Towns (D., N.Y.) said also invited Stephen Friedman, a Goldman Sachs director and former chairman of the Federal Reserve Bank of New York, the committee said in a statement.

The Jan. 27 hearing already is scheduled to include testimony from Treasury Secretary Timothy Geithner, who was president of New York Fed, when AIG was rescued by the U.S. government in September 2008.

The committee said other confirmed witnesses at the hearing are Neil Barofsky, special inspector general for the Troubled Asset Relief Program; Thomas Baxter, the New York Fed's general counsel and Elias Habayeb, the former chief financial officer of the AIG Financial Services Division.

Lawmakers are probing the circumstances around AIG's payments of $62 billion to major financial institutions who were counterparties of AIG, including Goldman Sachs, to settle the full value of credit default swaps.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Crime/Corruption; Extended News; Government
KEYWORDS: aig; bernanke; geithner; paulson

1 posted on 01/16/2010 1:44:50 PM PST by La Enchiladita
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