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

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

July 21 (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.

Link to Company News:{AIG US <Equity> CN <GO>}

To contact the reporter on this story: Scott Lanman in Washington at slanman@bloomberg.net

To contact the editor responsible for this story: Scott Lanman at slanman@bloomberg.net

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