Ah Bernanke and his perfect sense of timing. Ben decided to play nice today and wrote a letter to GAO Acting Comptroller Gene Dodaro to let him know that the Fed would "welcome a full review by GAO of all aspects of our involvement in the extension of credit to AIG."
Even though he's on the verge of losing patience, because the Fed "has also provided significant information about its lending actions regarding AIG to the Congress in testimony and correspondence, to the GAO in connection with its original report in September 2009, and to other oversight bodies such as the Special Inspector General for the Troubled Asset Relief Program," Ben pledged that he will "make available to the GAO all records and personnel necessary to conduct this review."
Considering that Bernanke's heartwarming move comes more than a year after the insurer's bailout started and a mere couple of weeks before Geithner and Co.' grilling before the House Committee on Oversight and Government Reform (not to mention a week after the incriminating emails surfaced) one has to wonder what triggered the grand gesture.
Either he has had enough of the whole brouhaha surrounding AIG, is fed up by regulators refusal to just drop it and move on, (how many hearings on the matter has the dude been on?) or has just a perfect sense of comedy.
We wouldn't go as far as saying that he should try out to replace Conan, but hey, in case that second stint as Fed chairman doesn't pan out, he might give it a go.
Read the whole letter here.