Wall Street

Great Question by the Chairman of the Committee on Oversight and Government Reform - Edolphus ’Ed‘ Towns of Brooklyn, New York is a 14-term veteran in the U.S. House of Representatives, where he serves as Chairman of the Committee on Oversight and Government Reform,

A.I.G., a global insurer that has received $180 billion in taxpayer commitments since its collapse 16 months ago

“I really want to find out what led them to pay 100 percent to the counterparties,” Mr. Towns said Tuesday. “The whole credibility of the Federal Reserve is called into question when you do things like that in secrecy, and that is something we need to change the culture of.”

Goldman, was A.I.G.’s largest trading partner, received the most money — $12.9 billion — in the payments to counterparties.