Geithner and Bernanke Testimony on AIG Bonuses
2009-03-24T10:00:30-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvODFiXC8yODQ3OTctbS5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Secretary Geithner and Federal Reserve Chairman Bernanke testifed about a proposed regulations allowing the federal government to purchase “toxic” financial assets through a public-private venture and expanding the federal government’s authority to seize both banks and other financial institutions. They spoke about bonuses paid to American International Group (AIG) and oversight of federal investments in the private financial sector. In their answers to questions from the committee they said that while they were vaguely aware of provisions to pay bonuses, they were not fully aware that some bonuses were destined for employees in the financial products division. They also said that they would explore legal avenues to recoup the bonuses, but cautioned against overreacting too aggressively.
Secretary Geithner and Federal Reserve Chairman Bernanke testifed about a proposed regulations allowing the federal government to purchase… read more
Secretary Geithner and Federal Reserve Chairman Bernanke testifed about a proposed regulations allowing the federal government to purchase “toxic” financial assets through a public-private venture and expanding the federal government’s authority to seize both banks and other financial institutions. They spoke about bonuses paid to American International Group (AIG) and oversight of federal investments in the private financial sector. In their answers to questions from the committee they said that while they were vaguely aware of provisions to pay bonuses, they were not fully aware that some bonuses were destined for employees in the financial products division. They also said that they would explore legal avenues to recoup the bonuses, but cautioned against overreacting too aggressively. close
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