Representative Edolphus Towns, chairman of the House Oversight and Government Reform Committee plans a Subpoena to probe Geithner's AIG decisions.



Treasury Secretary Timothy Geithner came under increased scrutiny Tuesday when a key congressman said he would subpoena the Federal Reserve Bank of New York about bailout decisions made on Geithner's watch.



Rep. Edolphus Towns, D-N.Y., said Tuesday he will subpoena the New York Fed for documents related to the bailout of failed insurer American International Group Inc.



Towns chairs the House Oversight and Government Reform Committee. The committee is investigating deals that diverted billions of AIG bailout dollars to banks including Goldman Sachs Group Inc.



The committee has been investigating e-mails from New York Fed lawyers telling AIG not to disclose details about the deal. The e-mails were released last week by California Rep. Darrell Issa., the committee's top Republican.



Issa asked Towns to subpoena the New York Fed after the Fed blocked a separate request for documents.



In a statement Tuesday, Towns said the subpoena will "shed light on how and why taxpayer dollars were used for a backdoor bailout."



The "backdoor bailout" refers to money being funneled to banks including Goldman, Societe Generale and Deutsche Bank.

Geithner's Got To Go

The latest revelations about the New York Fed's actions in the AIG bailout make one thing clear: Treasury Secretary Tim Geithner must go.



Geithner must go not just because of the emails showing that his New York Fed ordered AIG to keep details of the bailout secret, but because of many other decisions and policies he has championed in the past two years.



These decisions and policies have consistently put the interests of Wall Street ahead of the interests of the taxpayer, and they have undermined the public's confidence in the government at a time when the country needs it the most.



Tim Geithner's defense of his actions continues to be, in effect, "We had to do it or the world would have ended." This isn't good enough. It is also, at the very least, debatable. ....



Contrary to the revisionist history now being promulgated, these [Geithner's] actions were not the only way out. They were grossly unfair to taxpayers, and they have undermined public confidence in the government--and our current President--at a time when the country needs it most.

Henry Blodget, Aaron Task Too Kind

we had no choice

I am not a crook

When the president does it that means that it is not illegal.