The New York Fed and its former president, the US Treasury secretary Tim Geithner, will come under more pressure on Wednesday from US Congress, after the release of more emails relating to the bail-out of AIG. Republicans on the House oversight committee have accused the New York Fed of a “cover-up” after reviewing emails between officials about the decision to pay $27.1bn, or par value, to banks led by Société Générale and Goldman Sachs that had bought credit default swaps from AIG.

This entry was posted by Gwen Robinson on Wednesday, January 27th, 2010 at 4:35 and is featured in The 6am Cut London (27 Jan 2010) . Tagged with aig, Tim Geithner. Edit this entry.