Frank concerned AIG may have 'discriminated' against US banks
WASHINGTON (Bloomberg) — House Financial Services Committee chairman Barney Frank asked Treasury Secretary Timothy Geithner to investigate possible "discrimination" in payments American International Group Inc. made to banks using taxpayer funds. Frank, a Massachusetts Democrat, today sent Geithner a letter from Alabama Representative Spencer Bachus, the panel's ranking Republican, in which Bachus said AIG paid overseas banks the full amounts owed while asking US lenders to take cuts of as much as 70 percent. "Any discrimination against American-owned financial institutions compared to the treatment being received by foreign owned institutions would be unacceptable to the Congress, and I believe to the American public," Frank wrote to Geithner.
