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

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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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