Geithner answering critics on AIG bailout secrecy

Geithner faces questions on AIG, bank concessions

By Daniel Wagner
Published January 27, 2010 3:20PM (EST)

Treasury Secretary Timothy Geithner is denying that he was involved in withholding information about deals that sent billions from the bailout of American International Group Inc. to big banks.

In testimony prepared for a congressional hearing Wednesday, Geithner says he "had no role in making decisions regarding what to disclose about the specific financial terms" of the deals.

Geithner faces criticism from the House oversight committee for decisions that might have cost billions more than necessary. A bailout watchdog says Geithner should have demanded concessions from banks when he was president of the New York Federal Reserve Bank. Lawmakers are concerned about e-mails that show New York Fed officials demanding the deals be kept secret.

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