Any chance we can get him in Washington? Maybe unload the dead weight at Treasury and get someone who wants to do something other than remaining friends with Wall Street. CNBC:
The new subpoenas concern the unwinding of billions of dollars worth of credit default swaps, the unregulated, insurance-like instruments that brought the company to the brink of collapse.
Investigators want to know why some of the purchasers of credit default swaps are being made whole by AIG, even though the company is the recipient of a $182 billion federal bailout.
Among the issues, according to a source close to the case: whether the contracts are being unwound "as arm's length transactions," and whether there were any improper incentives when the contracts were set up in the first place.
