Best Financial Markets Analysis Article Treasury Secretary Timothy Geithner's opening statement at the House Committee on Oversight and Government Reform's hearing to examine the collapse and federal rescue of American International Group. He basically covers his back from hiding the truth whilst acting as President of the New York Fed.

Geithner stated that failure to rescue AIG's would have risked a collapse of the financial system and economy, therefore the Banks held a gun to the tax payers heads and said write a blank check for AIG or you will all die. Committee members offered their sympathy and support for Geithner as the violin played from the gallery during Geithner's statement.

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