The Federal Reserve Bank of New York in November chose not to pursue tough negotiations with large foreign and domestic banks and instead allowed them to receive 100 cents on the dollar in government funds to settle tens of billions of dollars of exotic financial bets guaranteed by American International Group.
At the time, Timothy Geithner, now Treasury Secretary, headed the powerful New York Fed.
Why didn't Fed force big banks to take less of AIG bailout?
Executives from three of America’s biggest retail chains warned President Donald Trump that things could get...
