http://www.marketwatch.com/story/republicans-make-new-claim-about-bernanke-and-aig-2010-01-27
Oh my god Ben the party is over
This will cost you the day
There's no way to roll it over
You did it your way
Republican politicians made a new claim Wednesday about Federal Reserve Chairman Ben Bernanke's involvement in the 2008 bailout of insurance giant American International Group, one day before a vote on his re-nomination for a second term at the central bank.
Sen. Jim Bunning, a member of the Senate Banking Committee, said he read documents that show Fed staff recommended against bailing out AIG /quotes/comstock/13*!aig/quotes/nls/aig (AIG 24.88, -0.03, -0.12%) , leaving the insurer to file for bankruptcy like Lehman Brothers /quotes/comstock/11i!lehmq (LEHMQ 0.07, -.00, -3.03%) .
"His staff didn't agree with him," Bunning said, according to a transcript of a Tuesday interview with CNBC. "I'm talking about an e-mail that he sent his staff after his staff recommended that the Federal Reserve not touch AIG just like Lehman Brothers."
Geithner defends AIG bailoutU.S. Treasury Secretary Timothy Geithner defends the bailout of AIG in a hearing on Jan. 27, 2010. (Fox News)
The government ended up committing more than $100 billion to save AIG in multiple bailouts that have become among the most controversial aspects of the financial crisis.
Rep. Darrell Issa, R-Calif., said his office received "important information from a whistleblower" confirming Sen. Bunning's comments, according to a letter Issa sent on Tuesday to Rep. Edolphus Towns, chairman of the Committee on Oversight and Government Reform.
