President-elect Barack Obama announced Tuesday some key staff appointments in the financial sector of government. Timothy F. Geithner, president and CEO of the Federal Reserve Bank of New York, will serve as Secretary of the Treasury. Lawrence H. Summers, former Secretary of the Treasury under President Clinton, will serve as Director of the National Economic [...]
Government statement on bailout of AIG
Sept. 17, 2008 1 Comment
The following is a statement released by the Federal Reserve Tuesday regarding American International Group Inc: The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) under Section 13(3) of the [...]
