Posted on 01/07/2010 9:43:44 AM PST by FromLori
In 2008 the New York Federal Reserve Bank -- then chaired by current Treasury Secretary Timothy Geithner -- urged American International Group (AIG) not to disclose to the public its Credit Default Swaps (CDS) settlement payments to global banks. AIG ultimately received $182.3 billion in bailout funds and credits from the government. The Bloomberg News report about this incident is based on emails between AIG and the New York Fed obtained by Darrell Issa (R-Calif.), a ranking member of the House Oversight and Government Reform Committee.
The New York Fed played an important role in AIG's bailout, providing it with an $85 billion credit line in September 2008. The bailout was expanded three times, and included a $60 billion Fed credit line, an investment of as much as $69.8 billion from the Treasury and up to $52.5 billion for so-called Maiden Lane facilities, a Fed program to buy mortgage-linked assets owned or backed by AIG.
The emails reveal that the New York Fed decided to pay $62.1 billion in CDS settlement payments to Goldman Sachs Group (GS) and "more than a dozen banks" but it wanted AIG not to disclose these payments to the public.
(Excerpt) Read more at dailyfinance.com ...
ping
AIG gets busted Obama kicks dog.
Once a crook, always a crook.
Jan. 7 (Bl------g) -- Central bankers will hold talks with banking executives in Switzerland this weekend amid concern financial companies are rebuffing a push to increase regulation and temper risk-taking as the recent crisis ebbs.
Sniff...smells like conspiracy to defraud the public...
An expansion on the TruboTax ways and means, Geithner? =.=
AIG was doing what it was directed to do, once Maurice Greenberg, it's leader, was taken out of the way.
Makes one wonder why...
it’s -> its ... I hated extraneous apostrophes long before I started using them. They’re like a disease.
Thank you hand! I got a kick out of Denninger’s take on this
http://market-ticker.denninger.net/archives/1825-Where-The-Sun-Never-Shines.html
Video: The Crooks, The Liars, The Criminals
They raped America and were rewarded with free money. Billions of our money were granted these gangsters in phony 'bailouts.' Obama wants to give them $$$ Billions more. He lives in the pockets of the worst criminals in history. The crooks are behind the Nazi eugenics program disguised as 'health care reform,' Codex Alimentarius disguised as 'food reform,' the swine flu vaccine scam and the global warming scam. They already rule the world but they want it all now and millions of people will die. Welcome to the New World Order.
Please check my freeper page for updates
A title like that ought to launch a guy into Drudge's category.
Thanks by the way can you please send me the direct you tube link for this I want to use it in a piece? Thanks, D
I had to go check when you said that they have the story but they have the second page title lol I took the title from the front page you would think they would too.
I had to go check when you said that they have the story but your right Karl’s would have been so much better.
Everything’s Great!!! Buy Stocks? Stiglitz Says Wall Street Talking Up Recovery
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