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  • Geithner’s New York Fed Told AIG to Limit Swaps Disclosure

    01/07/2010 6:17:52 AM PST · by Stayfree · 7 replies · 439+ views
    Business Week ^ | January 7, 2010 | Hugh Son
    The Federal Reserve Bank of New York, then led by Timothy Geithner, told American International Group Inc. to withhold details from the public about the bailed-out insurer’s payments to banks during the depths of the financial crisis, e-mails between the company and its regulator show. AIG said in a draft of a regulatory filing that the insurer paid banks, which included Goldman Sachs Group Inc. and Societe Generale SA, 100 cents on the dollar for credit-default swaps they bought from the firm. The New York Fed crossed out the reference, according to the e-mails, and AIG excluded the language when...