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Federal Reserve Latest News: Bernanke to Give Deposition in AIG Bailout Lawsuit

Wochit 1:12 mins

U.S. judge Thomas Wheeler has ordered that Federal Reserve Chairman Ben Bernanke can be questioned in a lawsuit against the government filed by the former head of American International Group Inc. It is rare for a Fed chairman to be deposed in a lawsuit. But Judge Wheeler have said that he made an exception because Bernanke has firsthand knowledge of the government's decision to bail out AIG at the height of the financial crisis. Stocks dipped as investors took a cautious stance before a Federal Reserve meeting this week, a meeting that could signal when the Fed might begin to alter its stimulus plans. A federal judge said that Mr. Bernanke should have to give a deposition in a lawsuit being brought by the former chief executive of A.I.G., Maurice R. Greenberg, over the rescue of the giant insurer.Judge Thomas C. Wheeler of the United States Court of Federal Claims says that Testimony from the Fed chairman would ?unquestionably? be relevant to the case

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