Top GOP Rep. Says AIG Treated US Banks Unfairly

Law360, New York (November 24, 2009, 5:22 PM EST) -- Rep. Spencer Bachus, R-Ala., is asking why U.S. banks that made loans to American International Group Inc. are taking steep losses while other counterparties, both foreign and domestic, of the humbled insurance giant were paid in full.

In a letter sent to Treasury Secretary Timothy F. Geithner on Monday but released Tuesday, the ranking Republican on the U.S. House Financial Services Committee asked why the banks in question have received “far less favorable treatment” than counterparties that received 100 cents on the dollar on deals with...
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