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.
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