The list of those called to testify for a House inquiry into the American International Group and its payouts to its counterparties just gained a few more high-wattage witnesses.
Henry M. Paulson Jr., the former Treasury secretary (left), and Stephen Friedman, the former chairman of the Federal Reserve Bank of New York (right), have been asked to speak before the Committee on Oversight and Government Reform, the committee said Friday.
The committee, led by Representative Edolphus Towns, Democrat of New York, has already called Treasury Secretary Timothy F. Geithner to testify at the hearing, which is now scheduled for Jan. 27.
At the heart of the inquiry is the bailout of A.I.G., which has swollen to more than $182 billion and included a controversial decision to pay the insurance giant’s counterparties — including the likes of Goldman Sachs and Société Générale — in full. The handling of the A.I.G. rescue has rankled both sides of the political aisle, leading to loud denunciations of those who devised the plan.
Continue reading Paulson and Friedman Called to Testify About A.I.G.