Fed chief Ben Bernanke asks GAO to review AIG bailout

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Federal Reserve Chairman Ben Bernanke today asked Congress’ investigative arm to conduct a “full review” of the Fed’s publicly derided bailout of insurance giant American International Group.

The move is aimed at tamping down criticism of the $182-billion rescue. It has sparked public outrage and demands in Congress for more information about the lifelines, beginning in 2008, provided to the company.

The House Committee on Oversight and Government Reform has a probe under way that seeks to provide a fuller picture of the AIG bailout.

Bernanke made his request in a letter to the Government Accountability Office, the investigative arm of Congress.

-- Associated Press