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Watchdog: Treasury, Fed share fault in AIG oversight
Treasury Secretary Tim Geithner bears ultimate responsibility for regulators failing to rein in AIG bonus payments, Barofsky says, noting Geithner led the agencies that provided lifelines. He learned of the bonuses in March. NY Fed staff knew in November. Barofsky criticizes outsourcing oversight to the Fed and calls for tighter recovery of taxpayer money.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Timothy Geithner
American International Group
AIG
Geithner
Federal Reserve Bank of New York
New York Fed
Neil Barofsky
Barofsky
House Committee On Oversight and
Obama
Fed
Insurance and
Henry Paulson
Rep
Darrell Issa
California