Wednesday’s congressional hearing on the bailout of American International Group Inc. may have let politicians vent their anger over secret uses of taxpayer money. But it did little to answer a key question: Who ordered lawyers at the Federal Reserve Bank of New York to try to hide details of bailout payments?
New York Fed general counsel Thomas Baxter Jr. testified at the hearing that the secrecy was to protect the taxpayers’ financial interests, but Baxter didn’t say who exactly told his legal department to do it.
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