A U.S. judge ruled on Monday that Federal Reserve Chairman Ben Bernanke should testify in the multibillion-dollar lawsuit by the former chief of American International Group Inc, Maurice "Hank" Greenberg, against the United States over the insurer's 2008 bailout.
Judge Thomas Wheeler of the U.S. Court of Federal Claims rejected the government's effort to keep Bernanke from submitting to a deposition by Greenberg's Starr International Co, once AIG's largest shareholder with a 12 percent stake.
Wheeler called Bernanke a "central figure" in the decision to rescue AIG, making him a "key witness" who could provide "highly relevant" testimony about the government's bailout of the insurer, which eventually totaled $182.3 billion.
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.