Geithner Vague on How He Arrived at AIG Bailout Rate
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Timothy Geithner backed away from two of his more provocative assessments of the 2008 bailout of American International Group Inc., in a day of courtroom testimony marked by careful answers and a lack of recollection about the details of the financial rescue he helped oversee.
Geithner, who headed the Federal Reserve Bank of New York at the time of the bailout, shed little new light on how he set the interest rate for AIG’s rescue loan, a key question in a lawsuit by Maurice “Hank” Greenberg’s Starr International Co. challenging the terms of the government’s assistance to AIG.