NU Online News Service, Jan.13, 2:51 p.m. EST
WASHINGTON–A House government oversight panel ordered the Federal Reserve Bank of New York to produce documents related to its role in American International Group's failure to disclose details of the decision to pay AIG trading partners in full.
At the same time as that action yesterday, the ranking member of a Senate subcommittee that oversees the Securities and Exchange Commission asked the agency to conduct a full investigation into the Fed's role in the decision to pay counterparties 100 cents on the dollar on credit default arrangements that went bad.
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