Members of the insurance industry are taking exception to comments made by Treasury Secretary Timothy Geithner last week before the House Committee on Oversight and Government Reforms.
Pressed on why Federal Reserve officials did not push harder for trading counterparties to bailed out American International Group to take “haircuts” on credit default swaps, Geithner responded that AIG’s businesses were so intertwined that weakening the parent company would imperil AIG’s insurance companies, and that regulators “could not separate those [insurance] companies from the companies that had taken terrible risks.”
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access