Bernanke Offers Fed’s AIG Records to Gov’t Watchdogs
Posted on Jan 19, 2010
The Fed has nothing to hide about its dealings with AIG when it saved the too-big-to-fail insurance behemoth during the great bailout of 2008-9—or at least Federal Reserve Chairman Ben Bernanke has signaled his full willingness to make the central bank’s relevant “records and personnel” available to investigators from the Government Accountability Office.
In a letter to Acting Comptroller General Gene Dodaro on Tuesday, Bernanke said the Fed agreed to provide billions of dollars of aid to the troubled insurance giant to prevent “potentially calamitous effects on the U.S. economy” should AIG fail.
[...] Given the continuing questions about the AIG assistance, the Fed chairman said the Fed would welcome a full review by the GAO and will make available “all records and personnel necessary to conduct this review.”
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