Watchdog: Gov't may have overpaid to bail out AIG - Spokane, North Idaho News & Weather KHQ.com

Watchdog: Gov't may have overpaid to bail out AIG

  • Also on KHQ.comMore>>

  • Millions will have to repay part of tax credit

    Millions will have to repay part of tax credit

    WASHINGTON. - More than 15 million taxpayers could unexpectedly owe taxes when they file their federal returns next spring because the government was too generous with their new Making Work Pay tax credit.>>
    WASHINGTON. - More than 15 million taxpayers could unexpectedly owe taxes when they file their federal returns next spring because the government was too generous with their new Making Work Pay tax credit.>>

WASHINGTON. - A government watchdog is raising questions about the way officials handled the multibillion dollar bailout of insurance giant American International Group Inc.

Special Inspector General Neil Barofsky says the officials mismanaged an initial rescue attempt and may have overpaid other banks to wind down AIG's business relationships.

The Federal Reserve Bank of New York - headed at the time by now Treasury Secretary Timothy Geithner - paid AIG's business partners full face value for securities. That was so they would cancel insurance contracts that AIG had written in order to ease the firm's liquidity crunch, but Barofsky says at least one of those partner banks offered to cancel the contracts for less.

That means officials may have spent billions more than necessary to cancel debt insurance contracts with banks including Goldman Sachs Group Inc. and others.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Man arrested in North Spokane for assaulting ex-girlfriend

    Man arrested in North Spokane for assaulting ex-girlfriend

    Friday, September 22 2017 2:25 AM EDT2017-09-22 06:25:16 GMT
    Man arrested in North Spokane for assaulting ex-girlfriendMan arrested in North Spokane for assaulting ex-girlfriend

    SPOKANE, Wash. - On September 21st, just before 5:30 pm Officers responded to a home in the area of Mansfield and Ash. A woman told police that her ex-boyfriend, 22-year-old Brandon Vanlanham, was assaulting her. The woman stated she had a restraining order against Vanlanham, which Police confirmed. When officers arrived to the home, they discovered that Vanlanham had fled the scene.  About two hours later the woman called 

    >>

    SPOKANE, Wash. - On September 21st, just before 5:30 pm Officers responded to a home in the area of Mansfield and Ash. A woman told police that her ex-boyfriend, 22-year-old Brandon Vanlanham, was assaulting her. The woman stated she had a restraining order against Vanlanham, which Police confirmed. When officers arrived to the home, they discovered that Vanlanham had fled the scene.  About two hours later the woman called 

    >>
  • Toddler dies after being hit by truck in church parking lot

    Toddler dies after being hit by truck in church parking lot

    Thursday, September 21 2017 8:21 PM EDT2017-09-22 00:21:04 GMT

    PARKLAND, Wash. (AP) - An 18-month-old girl has died after she was struck by a truck in the parking lot of a church in Parkland. The Pierce County Sheriff's Department says the girl was taken to a hospital late Tuesday where she died of her injuries. The department says a 35-year-old female driver had been parked in front of the Lamb of God Christian Community Church Tuesday night. After talking to a relative, the woman pulled her truck 

    >>

    PARKLAND, Wash. (AP) - An 18-month-old girl has died after she was struck by a truck in the parking lot of a church in Parkland. The Pierce County Sheriff's Department says the girl was taken to a hospital late Tuesday where she died of her injuries. The department says a 35-year-old female driver had been parked in front of the Lamb of God Christian Community Church Tuesday night. After talking to a relative, the woman pulled her truck 

    >>
  • Argument between friends outside Buffalo Wild Wings ends in shooting

    Argument between friends outside Buffalo Wild Wings ends in shooting

    Thursday, September 21 2017 5:20 PM EDT2017-09-21 21:20:42 GMT

    SPOKANE VALLEY, Wash. - Detectives arrested a 42-year-old man for two counts of 1st Degree Assault Wednesday night after an argument turned violent. The Spokane Valley Police Department says Chad Dobson asked a friend to meet at Buffalo Wild Wings Wednesday night to talk about the victim's treatment of his soon-to-be ex-wife. 

    >>

    SPOKANE VALLEY, Wash. - Detectives arrested a 42-year-old man for two counts of 1st Degree Assault Wednesday night after an argument turned violent. The Spokane Valley Police Department says Chad Dobson asked a friend to meet at Buffalo Wild Wings Wednesday night to talk about the victim's treatment of his soon-to-be ex-wife. 

    >>
HD DOPPLER 6i
/