Thursday, January 7, 2010

Sweet deal for banks a secret..............

The controversy surrounding Treasury Secretary Tim Geithner's role in the 2008 Wall Street bailouts was ramped up Thursday with the revelation of emails that show the New York Federal Reserve -- then run by Geithner -- pressured insurance giant AIG to withhold information about payments the company made to its creditors. Rep. Darrell Issa (R-CA) obtained emails between AIG employees showing that the company had planned to disclose in its filings to the SEC that it had paid 100 cents on the dollar to creditors like Goldman Sachs and other banks, but "the New York Fed crossed out the reference," Bloomberg News reports...Link

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