NU Online News Service, Jan.13, 2:51 p.m.EST
WASHINGTON–A House government oversight panel orderedthe Federal Reserve Bank of New York to produce documents relatedto its role in American International Group's failure to disclosedetails of the decision to pay AIG trading partners in full.
At the same time as that action yesterday, the ranking member ofa Senate subcommittee that oversees the Securities and ExchangeCommission asked the agency to conduct a full investigation intothe Fed's role in the decision to pay counterparties 100 cents onthe dollar on credit default arrangements that went bad.
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