Wednesday, January 27, 2010

Geithner: 'I had no role' in an AIG cover up


http://money.cnn.com/2010/01/27/news/companies/aig_hearing/
NEW YORK (CNNMoney.com) -- Treasury Secretary Timothy Geithner told lawmakers Wednesday that he had no involvement in an apparent attempt by government regulators to withhold crucial information about AIG's bailout from the public.
"I had no role in making decisions regarding what to disclose," Geithner testified at a hearing held by the House Oversight Committee Wednesday.
New York Fed officials instructed AIG not to disclose more than a dozen controversial transactions to the Securities and Exchange Commission in November 2008. At the time, Geithner was the president of the New York Fed, but he said he had recused himself from the day-to-day operations at that time because of his nomination to be Treasury secretary.
At least two lawmakers weren't buying Geithner's denial.

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