Paulson to testify Wednesday on AIG payments and possible coverup by N.Y. Fed

Former Treasury secretary Hank Paulson is a late add to the lineup at Wednesday's big Hill hearing on AIG and whether the New York Fed covered up government payments to the struggling insurance giant's counter-parties.

The session, before the oversight committee, will still focus on a grilling of current Treasury Secretary Tim Geithner who, at the time of the possible coverup, was head of the New York Fed. However, because Geithner had at that point been nominated to be Treasury secretary, he had recused himself from New York Fed duties.

Still, he's going to get whipped by the members of Congress, seems sure.

For me, the surprise get is Paulson, who had been invited to testify but, it looked like, would not. Now, he's scheduled to be on the committee's second panel, following a sure-to-be-bloodied Geithner.

This makes a juicy hearing even juicier. (Is that the geekiest Washington thing to say? Probably.)

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