Geithner To Testify On AIG

U.S. Treasury Secretary Timothy Geithner will testify about insurer AIG's payments to banks after its 2008 bailout, a congressional panel said on Thursday, as another committee weighed into the matter.

House of Representatives Oversight Committee Chairman Edolphus Towns, who called the decision to pay 100 cents on the dollar to banks who bought credit default swaps from AIG a "backdoor bailout", said Geithner had agreed to testify before his panel on January 27.