"The Federal Bailout of AIG"

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"The Federal Bailout of AIG"

On Wednesday, January 27, 2010, the House Committee on Oversight and Government Reform held a hearing titled: "The Federal Bailout of AIG" to examine the Federal response to the collapse of AIG. The hearing focused on the decision to compensate AIG's credit default swap counterparties 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.

The hearing took place at 10:00 a.m. in room 2154 Rayburn House Office Building.

To view a webcast of the hearing, Click Here

The witnesses scheduled to testify were:

Panel I

The Honorable Timothy F. Geithner
Secretary
United States Treasury Department

Mr. Henry "Hank" Paulson
Former Secretary
United States Department of Treasury

Panel II

Mr. Neil Barofsky
Special Inspector General
Troubled Asset Relief Program

Mr. Thomas C. Baxter
Executive Vice President and General Counsel
Federal Reserve Bank of New York

Mr. Elias Habayeb
Former Senior Vice President and Chief Financial Officer - Financial Services Division
American International Group, Inc.

Mr. Stephan Friedman
Former Chairman
Federal Reserve Bank of New York