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Argh!!! Congress Didn’t Ask The Most Important And Totally Obvious Question In Yesterday’s AIG Hearing

Argh!!! Congress Didn’t Ask The Most Important And Totally Obvious Question In Yesterday’s AIG Hearing

timgeithner 24march09 hiding tbiCourtesy of John Carney at Clusterstock/Business Insider

As expected, both Hank Paulson and Tim Geithner denied responsibility for the worst aspects of the AIG bailout--overpaying counterparties and the secrecy.

But Congress let us down by completely failing to follow up with either Paulson or Geithner. The question they absolutely had to ask was: if you weren’t running things, who was? Give us a name, Mr. Secretary.

Laughably, the blowhards on the oversight committee didn’t ask that question. So we still have no idea who was making the decisions as we bailed out AIG and its counterparties.

Why didn’t the panel members ask this question? It’s not as if they were surprised by Geithner’s and Paulson’s excuse. Everyone knew they’d say this. We were talking about it two hours before the hearing started.

This is a completely ridiculous situation.

 


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