Sunday, October 5, 2014

Geithner Due in Court to Explain ’Loan Sharky’ AIG Rate

Geithner Due in Court to Explain ’Loan Sharky’ AIG Rate


http://www.bloomberg.com/news/print/2014-10-03/-loan-sharky-rate-to-aig-cut-for-rating-agencies-lawyer.html

Federal regulators cut a “loan sharky” interest rate on an $85 billion bailout loan to American International Group Inc. (AIG) because it contributed to a debt service problem that threatened the insurer’s credit rating, the top lawyer for the Federal Reserve Bank of New Yorktestified in a Washington federal court.
“We were part of the problem in setting that very high rate,” Thomas Baxter testified yesterday.

No comments:

Post a Comment

leave a reply: