Congress subpoenas Geithner's emails, phone logs

WASHINGTON: A House committee probing bailout deals has subpoenaed the Federal Reserve Bank of New York for correspondence from Treasury Secretary Timothy Geithner and other officials.

The House Oversight and Government Affairs Committee is examining New York Fed decisions that funneled billions of dollars to big banks including Goldman Sachs Group Inc and Morgan Stanley.

Geithner was president of the New York Fed at the time. He approved decisions involving the money from the bailout of failed insurer American International Group Inc, according to an earlier watchdog audit.