AIG - Coverup
It seems to me that you’re covering for something. (p43)
-- Damon SILVERS, COP Member / Policy Director for the AFL-CIO
2010 1216 - COP - Hearing - Treasury Secretary Timothy Geithner, Congressional Oversight Panel - [PDF-88p, VIDEO-CSPAN]
- What could the New York Fed be hiding?
- For one thing, a clear explanation of why it felt it had to bail out AIG.
- The story from regulators during the crisis was that credit-default swap counterparties had to be paid lest the financial system collapse.
- The public became incensed about 100-cents on the dollar pay-outs to big banks.
- Then last winter, Treasury Secretary Timothy Geithner, who ran the New York Fed in 2008, said the real problem had been AIG's insurance business, threatening average consumers.
- For one thing, a clear explanation of why it felt it had to bail out AIG.
2010 0910 - WSJ - 'Systemic Risk' Stonewall: Some bailout questions the Fed still hasn't answered --- [BonkNote] --- [link]
⇒ 2010 0127 - GOV (House-OGR) - The Federal Bailout AIG, Edolphus Towns (D-NY) --- [BonkNote]