Today the House Committee on Oversight and Government Reform held hearings on: “The Federal Bailout of AIG” to examine the Federal response to the collapse of AIG. The hearing will focus on the decision to compensate AIG’s credit default swap counterparties (Goldman Sachs, et al) at 100 cents on the dollar following AIG’s near-bankruptcy and the Federal Reserve’s alleged attempt to keep secret the names of the counterparties and the amounts they were paid.
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