Rep. Demands Probe Of AIG Debt Payments

Law360, New York (April 2, 2009, 12:00 AM EDT) -- Rep. Barney Frank, D-Mass., has asked U.S. Secretary of the Treasury Timothy Geithner and Federal Reserve Chairman Ben Bernanke to look into claims that American International Group Inc. requested that its U.S. bank creditors make "severe" concessions despite sending huge payments to foreign counterparty banks without similar requests.

Frank, chairman of the U.S. House of Representatives Financial Services Committee, based his request on a letter from Rep. Spencer Bachus, R-Ala., who claimed that though the insurance giant paid "the majority" of roughly $100 billion in U.S....
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