Members Of Congress Rip Treasury Secretary Geithner: "It Stinks To High Heaven"

Reuteres reports that "U.S. lawmakers turned up the heat on U.S. Treasury Secretary Timothy Geithner over his role in the bailout of insurer AIG, challenging his claim he did not influence a decision to keep quiet AIG payments to big banks. Both Democrats and Republicans questioned whether Geithner, who led the New York Federal Reserve Bank at the time, could have been in the dark over the decision not to disclose details of $62 billion AIG paid to banks to settle swaps contracts. One Republican said he should resign... Anger over the eventual $180 billion of taxpayer money poured into AIG prompted the U.S. House of Representatives Oversight Committee to hold the hearing and colored the tone of the questioning... Lawmakers are particularly incensed that AIG paid counterparty banks 100 cents on the dollar to settle the swaps deals after the insurer received taxpayer funds and that details were not publicly disclosed for several months."

Geithner denied he played a role in withholding information about deals that sent billions of taxpayer dollars from the bailout of AIG to big banks, but lawmakers were not buying it.

The first video below shows Massachusetts Democratic Congressman Stephen Lynch forcefully chewing up Geithner. The next video is of Florida Republican Congressman John Mica telling Geithner to stop with the "lame excuses" and "resign":



The following is the AP compilation from the hearing:
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