http://money.cnn.com/2010/01/07/news/geithner.disclosure.fortune/index.htm
NEW YORK (Fortune) -- The AIG bailout isn't going away, much as Treasury Secretary Tim Geithner might like it to.
The $180 billion fiasco was back in the news Thursday, after Bloomberg reported that the Federal Reserve Bank of New York prodded the troubled insurer at the end of 2008 to withhold some gory details of its bailout deal from the public.
The instructions came at a time when Geithner, who is now the Treasury secretary, led the New York Fed. Along with Fed chief Ben Bernanke and former Treasury Secretary Henry Paulson, Geithner was one of the key architects of the federal response to the economic meltdown of 2008.
The New York Fed says the final decision on disclosures always rested with AIG *(WE KNOW THEY COULD BE TRUSTED>???????)(AIG, Fortune 500), which since September 2008 has been propped up by multiple infusions of taxpayer funds. But the claim rings hollow, given all the bailout-information jockeying of the past year.
Around the time the New York Fed was striking details from an AIG securities filing, former Bank of America (BAC, Fortune 500) chief Ken Lewis was deciding not to let investors in on what a disaster the bank's purchase of brokerage firm Merrill Lynch was shaping up to be.
Lewis claimed Paulson and Bernanke pressured him not to disclose growing losses at Merrill to shareholders -- a claim the policymakers rejected and that many observers pooh-poohed.
***I WANT TO KNOW ONE THING....WHO HAS GONE TO JAIL and isnt enjoying their summer home and VAIL TRIPS etc.......NO ONE!!!!! BLEEP ME
EXPECT UPSIDE SURPRISE MAYBE JOB REPORT and we know we can trust BLS data!
D
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