By Ryan Grim
A Republican senator said Tuesday that documents showing Federal Reserve Board Chairman Ben Bernake covered up the fact that his staff recommended he not bailout AIG are being kept from the public. And a House Republican charged that a whistleblower had alerted Congress to specific documents providing “troubling details” of Bernanke’s role in the AIG bailout.
Sen. Jim Bunning, R-Kentucky, a Bernanke critic, said on CNBC that he has seen documents showing that Bernanke overruled such a recommendation. If that’s the case, it raises questions about whether bailing out AIG was actually necessary, and what Bernanke’s motives were.
A letter Bunning sent Monday to Senate Banking Committee Chairman Chris Dodd, D-Connecticut, also refers to an “[e]mail exchange regarding restructuring of assistance to AIG, initiated by Treasury Secretary Timothy Geithner” in March 2009.
Continue reading HuffPo’s Ryan Grim: Is Bernanke Hiding A Smoking Gun?
The Federal Bailout of AIG January 27, 2010
Two At Fed Had Doubts About Payout By AIG January 27, 2010
‘Backdoor Bailout’ January 26, 2010
Paulson and Friedman Called to Testify January 18, 2010
Goldman E-Mail Message Lays Bare Trading Conflicts January 17, 2010
Geithner Will Be “Charbroiled” Not Just Grilled January 8, 2010
AIG Has Become A Figurehead Of All That Is Broken In America January 8, 2010
New York Fed Urged AIG to Keep Bank Payments Secret January 7, 2010
AIG Executives Refuse to Return Bonuses December 28, 2009
Grayson Questions Retrade of AIG Deal December 9, 2009
AIG & Greenburg Drama Continues with Mega Settlement December 1, 2009