Judge Napolitano explains why Timothy Geithner could face criminal charges over AIG coverup.
Timothy F. Geithner became the ninth president and chief executive officer of the Federal Reserve Bank of New York on November 17, 2003
Geithner was in charge the of AIG bailout, American Insurance Group, during the depths of the financial crisis. The New York Fed told AIG to withhold information from the public abouts it's payments to banks. AIG said in a draft of a regulatory filing that the insurer paid banks, which included Goldman Sachs Group Inc. dolar for dollar on credit-default swaps they bought. The New York Fed crossed out the reference, according to the e-mails, and AIG excluded the language when the filing was made public on Dec. 24, 2008.
The e-mails were obtained by Representative Darrell Issa, ranking member of the House Oversight and Government Reform Committee.