Treasury Secretary Timothy Geithner is in the hot seat again. But he’s handling the heat.
Democrats and Republicans both pummeled Geithner for his role in the government bailout of mega-insurer American International Group in the fall of 2008. Members honed in both on the decision regulators made not to push for AIG’s trading partners to take a loss on expensive and complex insurance contracts, as well as actions New York Federal Reserve officials took to keep those payments out of the public eye.
Full story: Timothy Geithner takes heat for AIG bailout – Victoria McGrane – POLITICO.com