Investigations

House Subpoenas Geithner’s Records

How cozy exactly was Treasury Secretary Timothy Geithner with the big banks and AIG? We may soon know: The House Oversight and Government Affairs Committee has subpoenaed the Federal Reserve Bank of New York for correspondence from Geithner, who headed the New York Fed at the time of the AIG bailout. The committee wants emails, phone logs, and meetings notes from Geithner to find out why he approved decisions that handed over billions of dollars to big banks and why the Fed hid which banks benefited from the deal.