[1] Corrigan served as a partner and managing director in the Office of the Chairman at Goldman Sachs and was appointed chairman of GS Bank USA, the bank holding company of Goldman Sachs, in September 2008 until retiring in 2016.
[6] In a major article in April, 2009 about Obama Administration Treasury Secretary Timothy Geithner and his role in the national and global financial crisis, The New York Times writers traced the evolution of the AIG part in the crisis in September, 2008.
's chief executive at the time, Robert B. Willumstad, was seeking help raising capital from JP MorganChase, not using Goldman Sachs because it was "one of A.I.G.
"[7] In February, 2010, Corrigan faced inquiry in the House of Commons Treasury committee in London, England for Goldman's involvement with currency swaps executed with the Greek government.
The swaps, Corrigan acknowledged, "did produce a small reduction in the debt to GDP ratio at the time."
Corrigan's testimony continued, "With the benefit of hindsight, it seems very clear that standards of transparency could have been and should have been higher."
The report on his testimony concluded, "Corrigan's key defence against the Greek allegations was that every bank was cooking up deals with European governments — not just Greece.
"[8] In the May 7, 2010, Goldman public stockholders' meeting, the company "announced the creation of an internal committee that will examine possible conflicts of interest and other issues such as transparency and disclosure.
The report on this development was part of a larger analysis of the role of the board of directors in the oversight of the management, business and ethics of the company, in light of the intense scrutiny of the company's role in the national and global financial crises of recent years.
[11] Corrigan was married to Cathy Minehan, President of the Federal Reserve Bank of Boston from 1994 to 2007.
[12] Corrigan died at the age of 80 on May 17, 2022, from complications of Alzheimer's disease at a facility in Dedham, Massachusetts.