Search
 

GAO Report Shows Federal Reserve Had Reservations About AIG Bailout

A new Government Accountability Office report about the federal rescue of American International Group shows there was vigorous debate about whether the Federal Reserve should provide assistance to the insurer, and what the state-level and international implications would have been should the government not act.

By Arthur D. Postal | Updated on November 01, 2011
A report from the Government Accountability Office says the bailout of AIG was strongly opposed by Timothy Geithner, now Treasury secretary. He was president of the Federal Reserve Bank of New York in September 2008.

NU Online News Service, Oct. 26, 3:28 p.m. EST

WASHINGTON—A new Government Accountability Office report about the federal rescue of American International Group shows there was vigorous debate about whether the Federal Reserve should provide assistance to the insurer, and what the state-level and international implications would have been should the government not act.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 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.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.