Bailout Watchdog Investigating Fed's AIG Secrecy

By: Daniel Wagner AP Email
By: Daniel Wagner AP Email

WASHINGTON (AP) - A bailout watchdog is investigating whether the Federal Reserve withheld documents about the bailout of American International Group Inc.

House oversight committee staffers say the independent watchdog also will accuse the Treasury Department of misleading the public in response to questions about Secretary Timothy Geithner's role in the bailout. They spoke on condition of anonymity because they weren't authorized to discuss the investigation.

Lawmakers want more information about deals Geithner approved that funneled billions of AIG bailout money to banks. Geithner was president of the New York Federal Reserve Bank at the time.

Geithner and bailout watchdog Neil Barofsky are to testify to the committee Wednesday. A Barofsky spokeswoman wouldn't comment.

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