Fed retort: nothing to hide on AIG

Capitol Hill

The Federal Reserve declared it had nothing to hide from the US government on Tuesday after its chairman, Ben Bernanke, volunteered "all records and personnel" involved in any way with its $180 billion bailout of American International Group (AIG), the rescued insurer.

In a letter to the government accountability office (GAO), Bernanke said it was crucial that the government and people understood why snatching the company from the verge of collapse had been in the interest of the public good, an

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