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Project on Government Oversight




POGO Statement on SIGTARP's Audit of AIG Counterparty Payments

November 16, 2009 


Statement by Danielle Brian, Executive Director, Project On Government Oversight:

"Despite Secretary Geithner's repeated denials, the SIGTARP's latest audit shows how the AIG bailout was actually designed to funnel tens of billions in government funds to counterparties such as Goldman Sachs. The audit also makes the crucial point that the sky did not fall after the government and AIG disclosed the names of the counterparties. We hope the Fed stops hiding behind secrecy and takes this lesson to heart by releasing the names of the banks that have received trillions of dollars in emergency loans."

The SIGTARP's audit is available here. POGO's March 2009 letter calling for the disclosure of AIG's counterparties is available here.

Founded in 1981, the Project On Government Oversight (POGO) is a nonpartisan independent watchdog that champions good government reforms. POGO's investigations into corruption, misconduct, and conflicts of interest achieve a more effective, accountable, open, and ethical federal government.

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