US’ Geithner denies involvement in AIG disclosures

WASHINGTON, Jan 26 (BestGrowthStock) – U.S. Treasury Secretary
Timothy Geithner on Tuesday denied any role in deciding what to
disclose about insurer American International Group’s $62.1
billion in payments to bank counterparties.

In prepared testimony released by a member of the U.S.
House of Representatives Oversight and Government Reform
Committee, Geithner also said that government was still exposed
to the risk of substantial losses on AIG investments and was
unlikely to fully recover all of its investments in the
insurer.

“I had no role in making decisions regarding what to
disclose about the specific financial terms of Maiden Lane II
and Maiden Lane III and payments to AIG counterparties,”
Geithner said in testimony sent to the panel for a hearing on
Wednesday.

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(Reporting by David Lawder; Editing by Tomasz Janowski)

US’ Geithner denies involvement in AIG disclosures