Bernanke won't be forced to testify in AIG lawsuit

Ben Bernanke

Federal Reserve Chairman Ben S. Bernanke can’t be forced to testify in a lawsuit against the U.S. brought by Maurice 'Hank' Greenberg over the government’s bailout of American International Group (AIG), a federal appeals court ruled.

Bloomberg reports that Greenberg, the former AIG chairman and chief executive officer who sued through his firm, Starr International, 'has not established the extraordinary circumstances necessary to justify the deposition of Chairman Bernanke at all while he holds the position of Federal Reserve Board chairman, much less to inquire into the Federal Reserve’s deliberative processes or the chairman’s mental processes', Circuit Judge Timothy Dyk said in yesterday’s order.

Starr’s efforts to question Bernanke 'have all the appearances, and vices, of a fishing expedition rather than an effort to establish legally material facts', Dyk wrote for a three-judge panel in Washington

To access the complete Bloomberg article hit the link below

Fed's Bernanke Can't Be Forced to Testify in AIG Lawsuit

BBVA to Take EU2.3 Billion Charge on Chinese Bank Stake

BlackRock Cuts Hong Kong Investment, Sees Prices Drop

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News