Bernanke Must Testify In $55B AIG Bailout Suit By Ex-CEO

Law360, New York (July 29, 2013, 12:58 PM EDT) -- Federal Reserve Chairman Ben Bernanke must testify in a $55 billion class action brought by former American International Group Inc. CEO Maurice "Hank" Greenberg against the federal government challenging its controversial 2008 bailout of the insurance giant, a judge ruled Monday.

U.S. Court of Federal Claims Judge Thomas C. Wheeler said he would allow counsel for Starr International Co. Inc., an entity led by Greenberg that once held a 12 percent stake in AIG, to depose Bernanke regarding his personal involvement in the bailout. Starr claims...
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