Here is my testimony before the House Oversight Committee hearing last week regarding implications of the government as a shareholder in TARP recipients, particularly Citigroup, AIG and GM. It gave me a unique opportunity to continue discussing my Treasury Incorporated paper. I certainly hope the members took notes, although I doubt it. Nothing has been done since the last time I testified before House Oversight with the AIG trustees and CEO about problems in the AIG trust that was set up by the Federal Reserve to manage the taxpayer’s investment in AIG. Sparring with Ralph Nader, Congressman Tierney, and Chairman Kucinich about the evils of government shareholder activism was fun though.
Cite this Article
J.W. Verret, House Oversight Committee Hearing, Truth on the Market (December 23, 2009), https://truthonthemarket.com/2009/12/23/house-oversight-committee-hearing/