Monday, July 29, 2013

Judge Says Former AIG Chair Greenberg May Depose Bernanke

Emails a friend: "This could get interesting."

Former AIG Chief Executive Hank Greenberg should be able to depose U.S. Federal Reserve Chairman Ben Bernanke over the terms of AIG's bailout, a federal judge ruled on Monday.

Greenberg has argued that the government acted inappropriately in the way it rescued AIG, setting unfair terms that damaged shareholders.

Greenberg’s closely held investment firm and an AIG shareholder, urged Judge Thomas Wheeler to deny a government request to quash a deposition subpoena of Bernanke.

“No other witness can serve as a substitute for Mr. Bernanke’s testimony,” according the filing. By Bernanke’s own admission, “the decision to take over AIG was his.”

"Indeed, the court cannot fathom having to decide this multi-billion dollar claim without the testimony of such a key government decision maker," Wheeler wrote. "These facts constitute 'extraordinary circumstances' for the taking of Mr. Bernanke's deposition."


  1. Ben is going to need his helicopter now for sure!

    1. 911 benefactor Greenberg is very powerful . I wonder if change is coming due to this next move by him.