The news yesterday that Timothy Geithner may have helped cover up AIG’s financial problems is sparking a House investigation: A House committee is planning to grill Treasury Secretary Timothy Geithner about his role in the massive bailout of failed insurer American International Group Inc. The House Oversight Committee is responding to news that key details […]
It looks like all the talk Obama did about AIG yesterday was nothing but a smoke-screen: President Barack Obama said Monday that he would “pursue every single legal avenue to block” $165 million in bonuses to American International Group Inc. employees who were in part responsible for the insurance giant’s near collapse. But hours later, […]
All the talk this week about Timothy Geitner’s tax problems seems like even smaller potatoes compared to this: Eighty-three of the nation’s 100 largest corporations, including Citigroup, Bank of America and News Corp., had subsidiaries in offshore tax havens in 2007, and some of the companies received federal bailout funding, a government watchdog said Friday. […]