NY Fed GC Defends Geithner's Role In AIG Bailout

Law360, New York (January 11, 2010, 5:29 PM EST) -- The general counsel of the Federal Reserve Bank of New York has defended U.S. Treasury Secretary Timothy Geithner's role in the American International Group Inc. bailout, saying the former FRBNY chief had no hand in decisions about disclosure of billions of dollars in AIG counterparty payments.

Thomas Baxter, general counsel and executive vice president of the FRBNY, wrote to U.S. Reps. Edolphus Towns, D-N.Y., and Darrell Issa, R-Calif., on Friday in response to their calls to bring Geithner before Congress to answer questions about whether the...
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