The US congress is not convinced on the need to bailout AIG and are really upset with the massive release of funds by the bailed out AIG to Goldman Sachs and other investment bankers. In reality, this has resulted in all these companies booking billions of dollars of profits at the cost of the tax payer.
Timothy Geithner is at pains to answer the difficult questions being posed by various congress members. The questioning could force Obama administration to even consider removing Geithner from the Treasury Secretary post. The stock markets have gone into negative zone on hearing this news. We will know all related developments next week.