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Republican Plan To End The Bailout Of Fannie Mae and Freddie Mac View the plan here |
3-26-09, Bachus: Committee Must Examine Disparity Among Counterparty Payments |
March 26, 2009
Domestic Banks Are Being Disadvantaged, While American Tax Dollars Are Shipped Overseas
"Earlier this week we heard from Secretary Geithner, who acknowledged that AIG ‘fully met its obligations' to foreign entities. Since then, I have been informed that AIG is now attempting to force many of its U.S. creditors to accept severe reductions of more than 70 percent of the debt owed to them. This disparity in the treatment between foreign banks and U.S. banks is outrageous and unacceptable. I hope a hearing will be scheduled so that the Committee can get to the bottom of this in short order. The American people deserve no less." ### |