Geithner Will Testify on Secretive Bailout Deals

Treasury Secretary Timothy Geithner will testify Jan. 27 before a House probe into his role in deals that sent billions of bailout dollars to Goldman Sachs and other big banks. The committee wants to know why the Federal Reserve Bank of New York—which Geithner headed at the time—paid banks to cancel contracts with AIG and didn't demand concessions. The deals might have cost taxpayers billions more than necessary. (More Timothy Geithner stories.)