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Tuesday, March 31, 2009

Congress Wants AIG Mole's Documents

Members of Congress are pushing for access to confidential reports filed over the past several years by a government-appointed auditor who has been sitting in on AIG deliberations.
The auditor, whose presence was first reportedby the Wall Street Journal, was installed as the result of a settlement that deferred prosecution of AIG for allegedly helping financial institutions fudge their books. Deferring prosecution was the Bush administration's preference when it came to enforcing financial regulations.
"Whatever rationale there may have been for confidentiality doesn't appear to apply anymore," Rep. Brad Miller (D-N.C.) told the Huffington Post. "If the idea was that having a government appointed lawyer sitting in the board room would make sure that AIG went forth and sinned no more, it obviously didn't work out that way."
The House Oversight and Government Reform Committee has requested documents.
Other Democrats in Congress are also requesting the documents, aides say, including Rep. Elijah Cummings (D-Md.).
"That would be some real interesting reading, if we got everything from that mole," said Cummings, who's been chasing AIG since the initial government seizure. "We get so much incomplete information from AIG and maybe this is a way to connect all the dots."

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