NU Online News Service, May 11, 1:13 p.m. EDT
A letter from a congressional committee probing American International Group's use of taxpayers' bailout money reveals that a still-secret company restructuring plan has quietly involved U.S. banking officials.
"The committee was unaware that the Federal Reserve Bank of New York was so heavily involved in the management of AIG," wrote Rep. Edolphus Towns, D-N.Y., who chairs the Committee on Oversight and Government Reform, in a May 7 letter to AIG's chairman and chief executive officer, Edward Liddy.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
