Rep. Cummings Wants Geithner to Testify About N.Y. Fed-AIG E-Mails

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Rep. Cummings Wants Geithner to Testify About N.Y. Fed-AIG E-Mails

White House / Pete Souza

Focusing on Geithner: Rep. Elijah Cummings wants Treasury Secretary Timothy Geithner, center, to take to the stand about AIG.

Back in 2008, when Treasury Secretary Timothy Geithner was just the lowly president of the New York Federal Reserve, he was involved in some interactions with embattled insurance giant AIG that apparently resulted in AIG withholding important information from the public. Now Geithner’s under pressure from at least one concerned member of Congress to testify about this matter. —KA

Bloomberg:

Treasury Secretary Timothy Geithner should testify before Congress about efforts by the Federal Reserve Bank of New York to limit American International Group Inc.’s disclosures of payments to banks, a House Democrat said.

Representative Elijah Cummings of the Oversight and Government Reform Committee called for an investigation and hearing into what information was withheld from the public at the New York Fed’s request in 2008, when Geithner led the regulator. E-mails obtained by Congress include New York Fed requests that the bailed-out insurer withhold documents from public filings and delay disclosures about payments to banks to retire credit-default swaps, Bloomberg News reported yesterday.

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TAGS: aig bailout e-mail elijah cummings insurance new york federal reserve timothy geithner treasury secretary

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By NABNYC, January 8, 2010 at 5:19 pm Link to this comment

What do you mean testify? He should be charged with obstruction of justice, suborning perjury, conspiracy to defraud. Testify? He should be indicted, prosecuted, thrown in prison from the sound of it. Ever since the bush regime, there is a prevalent theory, embraced by the Obama people too, that the Lords and Ladies of the Land are exempt from the law. They cannot be compelled to testify. Instead, they are “invited” to “come speak” with Congress, or with a prosecutor, in secret, with no record. I’d say it’s long past time to change this atrocious policy.

Haul his bony ass into Congress, televise it, ask him every single thing he knows about the whole big enchilada: AIG, goldman sachs, all his friends, all the deals that were cut, where’d they put the money, the offshore accounts. The whole thing. Tell him that if he names names, we’ll give him a new phony Id and hid him in some two-horse town in New Mexico until after the trial. Testify my ass. The man is part of the criminal enterprise known as Wall street. Obama selected him, put him in charge of the treasury. The Mob is in charge.

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By Aarky, January 8, 2010 at 5:08 pm Link to this comment
(Unregistered commenter)

If people would have watched the financial news and Jim Cramers “Mad Mony” show you would have known about part of the plot. On Dec 22, 2008, Cramer evealed that most of the early money AQIG received went to banks in Europe. It would later come out that it was used to pay off credit default swaps. The citizenry should be outraged that only a few members of Congress want to ask questions about the cover-up. Another story just popped up that asserts that Geithner knew nothing about the cover-up. That is a lose-lose situation for him. As the head of the Newq York FED it was his job to know about such important decisions as to where $100 billion dollars would go. If he knew and is now lying as part of the additional cover-up, he needs to be canned.

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By dihey, January 8, 2010 at 3:00 pm Link to this comment

Did the Boss of the Fed in Washington know what his employee in New York was doing? The Boss should also be called in to testify even though I expect little or no light from that political charade.

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By Hammond Eggs, January 8, 2010 at 11:54 am Link to this comment

In the homicidal funhouse called The United States, I await Obama’s defense of the indefensible. He will not fire Geithner and that curly-headed rat bastard certainly won’t resign. So let’s hear Obama’s rationale. It will be one more nail in his political coffin.

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