More Barack “Transparency” Obama Fun – Congress Subpoenas AIG Documents After New York Fed Blocks Release
(CNSNews.com) – The Federal Reserve is refusing to disclose documents to Congress regarding the bailout of the American International Group (AIG), according to Neil Barofsky, the special inspector general for the Troubled Assets Relief Program.
This prompted both Democrats and Republicans to demand the documents’ release, as Rep. Ed Towns (D-N.Y.), chairman of the House Oversight and Government Reform Committee, issued a subpoena for the documents on Tuesday.
“This subpoena will provide the Committee with documents that will shed light on how and why taxpayer dollars were used for a backdoor bailout,” Towns said in a statement.
The House oversight panel had asked the special inspector general’s office for all “communications referring or relating” to the Fed’s decision allow the $85 billion bailout of AIG that later increased to a total of $182.3 billion.