SEC Orders AIG Info Sealed Until November... 2018! (counterparties & bailout)

Business Insider ^ | 01/12/10 | Joe Weisenthal

[TigerLikesRooster]

SEC Orders AIG Info Sealed Until November... 2018!

Joe Weisenthal | Jan. 12, 2010, 5:28 AM | 204 | comment 4

Good news. It looks as though we'll be getting access to secret data on the bailout of AIG and its counterparties.

The bad news: We're going to have to wait until November of 2018, according to Matthew Goldstein at Reuters.

In May, the SEC approved a request by AIG to keep secret an exhibit to a year-old regulatory filing that includes some of the details on the most controversial aspect of the AIG bailout: the funneling of tens of billions of dollars to big banks like Societe Generale, Goldman Sachs (GS.N), Deutsche Bank (DBKGn.DE) and Merrill Lynch.

The SEC's Division of Corporation Finance, in granting AIG's request for confidential treatment, said the "excluded information" will not be made public until Nov. 25, 2018, according to a copy of the agency's May 22 order.

The SEC said the insurer had demonstrated the information in the exhibit, called Schedule A, "qualifies as confidential commercial or financial information."

[TigerLikesRooster]

Ping!

[kempster]

This truly is the “most open and honest” administration in history!

[advance_copy]

http://sec.gov/about/commissioner/schapiro.htm

[bmwcyle]

Liberals thy name is Hypocrite.

[Grumpybutt]

Well of course. They don’t want the general public to know the truth - every bit of the bail out b.s. was orchestrated as nothing more than the “October Surprise” so that “dear one” would get elected. All dumped in G.W.’s lap at the last minute and every bit fabricated.

[hoosiermama]

What we need is our own Sandy Burglar!

[EBH]

Wow, Wow and one more ... Wow.

This is stunning. That was our money, our children’s money, our financial freedom that just got swept under the carpet.

Fannie/Freddie and an open checkbook.
SEC saying confidential where our money went.
The Administration leveling post facto fee’s on banks. (to help repay the billions that have already been repaid by some of the banks?)
Powerful Dems. “retiring”
Tax tables for 2010 altered for a free loan to the gov’t.

A bank holiday is right around the corner.

[AAABEST]

They use HUNDREDS OF BILLIONS of our money for their incestuous ends, then tell us it's none of our business how the money was used.

That is unbelievably freakin' rich. Commit generational theft and hide from the victims where the loot was stashed.

[snowsislander]

The laws and rules that govern the securities industry in the United States derive from a simple and straightforward concept: all investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it. To achieve this, the SEC requires public companies to disclose meaningful financial and other information to the public. This provides a common pool of knowledge for all investors to use to judge for themselves whether to buy, sell, or hold a particular security. Only through the steady flow of timely, comprehensive, and accurate information can people make sound investment decisions.

(From the SEC's website at The Investor's Advocate: How the SEC Protects Investors, Maintains Market Integrity, and Facilitates Capital Formation)

Well, the SEC seems to be doing the opposite of its charter: it's blocking the flow of timely, comprehensive information about a major company. Worse, the information is about public funds that went to the company in charge.

This is far worse than having no SEC: a SEC that ignores its own charter is not only useless, it's dangerous for investors.

[DGHoodini]

Evidence of DemoCriminal Dirty Deeds.

[Chode]

and America takes another one in the........

[dforest]

This dog don’t hunt. Heads on a pike. The corruption must be exposed.

[Travis McGee]

Never in history have crooks and criminals been paid so many billions and billions of dollars of the peasants’ future tax earnings.

Never. And the peasants are not even going to be allowed to learn the scope of the massive theft.

[Travis McGee]

The French invented the guillotine for far less.

[Wolfie]

I’m sure they have their reasons. I’ve never asked a poor man for a job, so I’m not going to question it.

[Travis McGee]

"The peasants have no bread? Let them eat cake."

(How did that work out last time around?)CW2 Ping

[bert]

Peasants can participate this time at a 50% return. It’s called AIG A preferred.

[pointsal]

B/S.....off with their heads! Let’s see the dirty laundry. We’re paying for the cleaning!

[TADSLOS]

I’m beginning to wonder if we have enough lamp posts in this country for all the hangings that are coming.