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Geithner’s Treasury Continues to Oppose Imposition of Conflict-of-Interest Barriers WASHINGTON. D.C. – House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA) called the report released today by SIGTARP Neil Barofsky should serve as a call to action for the Obama Administration and the Democratically-controlled House and ...

Warning Signs are There for Another Economic Catastrophe WASHINGTON. D.C. – House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA) today called on EVERY member of Congress to review the

Hearing Documents Hearing Video  

What We Learned Today:  NYFRB Engaged in Cover-Up WASHINGTON. D.C. – Following today’s hearing of the House Committee on Oversight and Government Reform examining the government’s role in bailing out AIG counterparties and hiding its details from the American public, Ranking Member Darrell Issa (R-CA)

What We Learned Today:  NYFRB Engaged in Cover-Up WASHINGTON. D.C. – Following today’s hearing of the House Committee on Oversight and Government Reform examining the government’s role in bailing out AIG counterparties and hiding its details from the American public, Ranking Member Darrell Issa (R-CA) made ...

New York Federal Reserve Bank/AIG Bailout Documents Video Reactions Rep. Bilbray Rep. Burton Rep. Duncan

WASHINGTON. D.C. – As the Obama Administration prepared to announce a new plan to address rising foreclosures, House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA) has called on the Obama Administration to put forward a viable plan to address the Government Sponsored Enterprises (GSEs) such as Fannie Mae and Freddie Mac, which were at the heart of the subprime housing collapse last fall that sent our economy into a tail-spin. “As long as ...

Report entitled, "Public Disclosure As A Last Resort: How the Federal Reserve Fought to Cover Up the Details of the AIG Counterparties Bailout From the American People." WASHINGTON D.C. – Today, Oversight and Government Reform Committee Ranking Member Darrell Issa (R-CA) released a report detailing the role of the Federal Reserve in the AIG Counterparty payments where billions of taxpayer dollars were used to pay Wall Street Banks in what has been termed a ...

Report entitled, "Public Disclosure As A Last Resort: How the Federal Reserve Fought to Cover Up the Details of the AIG Counterparties Bailout From the American People." WASHINGTON D.C. – Today, Oversight and Government Reform Committee Ranking Member Darrell Issa (R-CA) released a report detailing the role of the Federal Reserve in the AIG Counterparty payments where billions of taxpayer dollars were used to pay Wall ...

On September 15, 2008, the three major credit ratings agencies downgraded AIG's credit rating due to rising calls for AIG to post billions of dollars in cash collateral. These collateral calls, combined with the ratings downgrade (which triggered calls for more collateral under the terms of the contracts), put AIG on the verge of a bankruptcy filing. The following day, September 16, 2008, the Federal Reserve Board, with the support of the Treasury Department, authorized the Federal Reserve Bank ...