WASHINGTON (AP) — Timothy Geithner, a key player in the U.S. government’s 2008 bailout of American International Group Inc., is due back in court Wednesday in a trial of a lawsuit filed by the insurance giant’s former CEO over the handling of the rescue.
On Tuesday, Geithner affirmed his belief that the bailout was needed to avert disaster for the financial system. Geithner was president of the New York Federal Reserve at the time of the rescue and later Treasury secretary. Continue reading “Geithner grilled in court over AIG bailout”