Testimony Before the House Oversight Committee Concerning the AIG Trust

4 Pages Posted: 21 May 2009  

J. W. Verret

George Mason University - Antonin Scalia Law School, Faculty

Date Written: May 21, 2009

Abstract

This written testimony accompanied Professor J.W. Verret's oral testimony before the House Committee on Oversight and Government Reform. This testimony outlines flaws in the Trust Agreement established by the Federal Reserve Bank of New York to manage the government's $180 Billion investment in AIG. Also testifying during the hearing were Ed Liddy, the CEO of AIG, and the three trustees nominated by the Federal Reserve to manage the Trust.

Keywords: bailout, Citicorp, Corporate Federalism Initiative, ERISA, Geithner, George Mason Law School, government ownership, immunity, indemnity, Issa, Mercatus Center, nationalization, public companies, TARP, Towns, Treasury Department

JEL Classification: G18, G21, G28, G34, G35, G38

Suggested Citation

Verret, J. W., Testimony Before the House Oversight Committee Concerning the AIG Trust (May 21, 2009). George Mason Law & Economics Research Paper No. 09-27. Available at SSRN: https://ssrn.com/abstract=1408188 or http://dx.doi.org/10.2139/ssrn.1408188

J. W. Verret (Contact Author)

George Mason University - Antonin Scalia Law School, Faculty ( email )

3301 Fairfax Drive
Arlington, VA 22201
United States

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