In the facinating video below, Representative Marcy Kaptur (D. Oh) beautifully cross-examines present Treasury Secretary Timothy Geithner about his role in a $180B taxpayer bailout of insurance company AIG, and his conflicts of interest.
In 2008, Geithner (then leading the New York Federal Reserve Bank) helped bail out insurance company AIG. Important policies written by AIG protected another financial corporation, Goldman Sachs, from calamity due to collapsing toxic assets. Had AIG failed in 2008, Goldman Sachs would likely have also collapsed. Thus, the NY Federal Reserve orchestrated bailout of AIG directly benefited Goldman Sachs.
Here is a link with some background on the Goldman Sachs conflict of interest with the Federal Reserve. This link could be a key factor in why the Federal Reserve is pulling out all stops to avoid a full Congressional audit. Presently, the government has no oversight of the powerfully influential Fed.
In 2008, Geithner (then leading the New York Federal Reserve Bank) helped bail out insurance company AIG. Important policies written by AIG protected another financial corporation, Goldman Sachs, from calamity due to collapsing toxic assets. Had AIG failed in 2008, Goldman Sachs would likely have also collapsed. Thus, the NY Federal Reserve orchestrated bailout of AIG directly benefited Goldman Sachs.
Here is a link with some background on the Goldman Sachs conflict of interest with the Federal Reserve. This link could be a key factor in why the Federal Reserve is pulling out all stops to avoid a full Congressional audit. Presently, the government has no oversight of the powerfully influential Fed.
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