NU Online News Service, Dec. 3, 3:23 p.m. EST
Sen. Chuck Grassley is asking why federal officials believe an arrangement to let American International Group trade $25 billion of its government debt for a stake in two AIG companies is a better deal for taxpayers.
The Iowa Republican, in a letter to Treasury Sec. Timothy Geithner and William Dudley, president and chief executive officer of the Federal Reserve Bank of New York yesterday, questioned the wisdom of taking $25 billion in equity in two AIG companies.
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