Sen. Chuck Grassley challenges the Fed's decision to exchange AIG's (AIG) debt for shares,...

|By:, SA News Editor

Sen. Chuck Grassley challenges the Fed's decision to exchange AIG's (AIG) debt for shares, asking the Treasury and New York Fed to explain how taxpayers get a better deal from holding equity instead of debt. Grassley said in a letter the move puts "billions of dollars in taxpayer money in jeopardy."