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 the filing was made public on Dec. 24, 2008. The e-mails were obtained by Representative Darrell Issa, ranking member of the House Oversight and Government Reform Committee.
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corrupt is not a word to describe these people. We must End The Fed!
ReplyDelete100 cents on the dollar - for CDS's which were worth zilch- its obvious they were out to RIP us off. Amazing when bondholders of GM were forced to take pennies on the dollar yet AIG counterparties were paid full price on worthless CDS's
ReplyDeleteIts amazing anyone has ANY faith in the system anymore - and EVEN MORE AMAZING no one has been hung.
I have a feeling its coming though, I'd go long on steel neck collars and body armor if I was in the finacial or .gov sector
Corrupt and devious little elf man
ReplyDeleteAnd to think Goldman has the gaul to pay itself bonuses with our hard earned tax dollars. Makes me taxpayer want to vomit.
ReplyDeleteIn the real world the scumbags get the respect, the money, and the admiration and devotion of the sheeple.
ReplyDeleteReal heroes that tell the truth at the expense of their careers or lives are cast aside as conspiracy theorists, nuts, or assholes.
Everything is upside down and backward.
Boy - my skills might be a little rusty; but as a long range sniper Circa 1975 I'd like to get that little elf in my sights - It's not been that long that I've forgotten what the ole .300 Winchester magnum feels like. What a scurge of humanity.
ReplyDelete