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Republican Plan To End The Bailout Of Fannie Mae and Freddie Mac View the plan here |
1-15-10, Bachus Responds To Barney Frank Regarding AIG Hearing |
January 15, 2010
WASHINGTON -Financial Services Committee Ranking Member Spencer Bachus made the following statement regarding his request for an AIG hearing: ‘[senior] officials recommended to President Geithner that Maiden Lane III transactions go forward without haircuts because it would be impractical to obtain haircuts from all counterparties. Mr. Geithner concurred and it was decided that FRBNY would cease efforts to negotiate haircuts...' "Mr. Geithner made the decision to pay the counter-parties one hundred cents on the dollar and it is he who should answer questions regarding this decision."It is time for the Committee to schedule a hearing and examine the disparity of treatment by AIG at the direction of the NY Fed." |