Washington DC -- Following the release of e-mails revealing the New York Federal Reserves apparent efforts to suppress disclosure to federal regulators of AIG bank payments during the financial crisis the lead House Republican on the Joint Economic Committee is calling for a Joint Economic Hearing into the matter - with Treasury Secretary Tim Geithner as the lead witness.
In a letter to Democratic Chairwoman Carolyn Maloney of New York U.S. Congressman Kevin Brady (R-TX) urges that Geithner testify before the committee and that Congress determine his knowledge and complicity in the furtive efforts to discourage full disclosure to the SEC of AIG payments to its banking counterparties.
Given that Tim Geithner insisted on the sweetheart deals to the banks through AIG its not a stretch to believe he wanted them concealed especially as he went through his vetting process in the Senate says Brady who has called on the Treasury Secretary to resign for his failures as leader of economic recovery for the Obama Administration.
Brady says lawmakers should be concerned that this continues a pattern of lack of transparency by Geithner. The special inspector of the Troubled Asset Relief Program (TARP) has repeatedly criticized the Treasury Department for rejecting recommendations for more public transparency of TARP funds and for paying 100 cents on the dollar to AIG counterparties for nearly worthless credit-default swaps - a directive that cost taxpayers billions of dollars.
Washington DC -- Following the release of e-mails revealing the New York Federal Reserves apparent efforts to suppress disclosure to federal regulators of AIG bank payments during the financial crisis the lead House Republican on the Joint Economic Committee is calling for a Joint Economic Hearing into the matter - with Treasury Secretary Tim Geithner as the lead witness.
In a letter to Democratic Chairwoman Carolyn Maloney of New York U.S. Congressman Kevin Brady (R-TX) urges that Geithner testify before the committee and that Congress determine his knowledge and complicity in the furtive efforts to discourage full disclosure to the SEC of AIG payments to its banking counterparties.
Given that Tim Geithner insisted on the sweetheart deals to the banks through AIG its not a stretch to believe he wanted them concealed especially as he went through his vetting process in the Senate says Brady who has called on the Treasury Secretary to resign for his failures as leader of economic recovery for the Obama Administration.
Brady says lawmakers should be concerned that this continues a pattern of lack of transparency by Geithner. The special inspector of the Troubled Asset Relief Program (TARP) has repeatedly criticized the Treasury Department for rejecting recommendations for more public transparency of TARP funds and for paying 100 cents on the dollar to AIG counterparties for nearly worthless credit-default swaps - a directive that cost taxpayers billions of dollars.
