The Project on Government Oversight

Toolkit Printer Friendly Send to friend Sign up for Updates POGO's Top 10 Pages POGO in the News Report hits Geithner over AIG bailout November 17, 2009  Did Hank Paulson Break the Law? October 20, 2009  A House Financial Services Oversight committee holds a hearing to assess the government’s online tools for tracking how the bail out--or TARP--money is being spent September 16, 2009  More » Related POGO Files POGO’s Concerns about Insurance Companies Confirmed by SIGTARP Report December 10, 2009 Congress Urged To Examine Wall Street Firms: Conflicts Of Interest Raise Serious Concerns May 19, 2009 POGO letter to Congress raising concerns about bailout private asset managers' conflicts of interest May 19, 2009 More »

POGO Statement on SIGTARP's Audit of AIG Counterparty Payments

November 16, 2009

Statement by Danielle Brian, Executive Director, Project On Government Oversight:

"Despite Secretary Geithner's repeated denials, the SIGTARP's latest audit shows how the AIG bailout was actually designed to funnel tens of billions in government funds to counterparties such as Goldman Sachs. The audit also makes the crucial point that the sky did not fall after the government and AIG disclosed the names of the counterparties. We hope the Fed stops hiding behind secrecy and takes this lesson to heart by releasing the names of the banks that have received trillions of dollars in emergency loans."

The SIGTARP's audit is available here. POGO's March 2009 letter calling for the disclosure of AIG's counterparties is available here.

Founded in 1981, the Project On Government Oversight (POGO) is an independent nonprofit that investigates and exposes corruption and other misconduct in order to achieve a more effective, accountable, open, and ethical federal government.

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