Turbo Timmy (in the immortal words of Ricky Ricardo) may have some more ” ’splaining to do!”
By Daniel at 7 January, 2010, 12:44 pm
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http://blogs.wsj.com/deals/2010/01/07/aig-bailout-keeps-dogging-tim-geithner/
“The latest dust up: the Federal Reserve Bank of New York, while led by Geithner, pressured AIG not to disclose payments it made to such banks as Goldman Sachs Group and Deutsche Bank, to settle swap contracts at the height of the financial crisis…”
“This episode suggests that the NY Fed – and Geithner, then a nominee for Secretary of the Treasury – were worried about any political fallout from the swap payments. When the details were released months later (and after Geithner was confirmed as Treasury Secretary), critics alleged that Geithner had failed to negotiate a better deal for the swap payments with the Wall Street firms.”
“This episode suggests that the NY Fed – and Geithner, then a nominee for Secretary of the Treasury – were worried about any political fallout from the swap payments. When the details were released months later (and after Geithner was confirmed as Treasury Secretary), critics alleged that Geithner had failed to negotiate a better deal for the swap payments with the Wall Street firms.”
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