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Fed’s Dudley Got 2008 Waiver to Keep AIG Holdings, Sanders Says

The Federal Reserve Bank of New Yorks William C. Dudley
The Federal Reserve Bank of New Yorks William C. Dudley. Photographer: Andrew Harrer/Bloomberg

The Federal Reserve Bank of New York’s William C. Dudley got a waiver in 2008 to keep personal financial holdings of American International Group Inc. after the company received a Fed rescue, a U.S. senator said.

Dudley, who was the New York Fed’s markets-group chief at the time and is now the bank’s president, is the senior New York Fed official identified in a Government Accountability Office report today as receiving the waiver, Senator Bernard Sanders, a Vermont Independent, said today in a statement. Jack Gutt, a New York Fed spokesman, declined to comment.

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