US' Geithner denies involvement in AIG disclosures
WASHINGTON Jan 26 (Reuters) - U.S. Treasury Secretary Timothy Geithner on Tuesday denied any role in deciding what to disclose about insurer American International Group's $62.1 billion in payments to bank counterparties.
In prepared testimony released by a member of the U.S. House of Representatives Oversight and Government Reform Committee, Geithner also said that government was still exposed to the risk of substantial losses on AIG investments and was unlikely to fully recover all of its investments in the insurer.
"I had no role in making decisions regarding what to disclose about the specific financial terms of Maiden Lane II and Maiden Lane III and payments to AIG counterparties," Geithner said in testimony sent to the panel for a hearing on Wednesday. (Reporting by David Lawder; Editing by Tomasz Janowski)
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