Geithner Will Testify on Secretive Bailout Deals
House committee wants answers on his role on AIG contracts
By Newser Editors and Wire Services
Posted Jan 14, 2010 6:12 PM CST
Treasury Secretary Timothy Geithner.   (AP Photo)

(Newser) – Treasury Secretary Timothy Geithner will testify Jan. 27 before a House probe into his role in deals that sent billions of bailout dollars to Goldman Sachs and other big banks. The committee wants to know why the Federal Reserve Bank of New York—which Geithner headed at the time—paid banks to cancel contracts with AIG and didn't demand concessions. The deals might have cost taxpayers billions more than necessary.