AIG and NY Fed under fire for hiding bailout facts

AIG and the Federal Reserve Bank of New York have become targets of an investigation into whether the overseer had instructed the troubled insurer not to disclose certain key information to the public.

Neil Barofsky, special inspector general for the $700 billion bailout, is set to tell the House Oversight Committee on Wednesday that he has initiated an investigation into whether the New York Fed instructed AIG (AIG, Fortune 500) not to disclose more than a dozen controversial counterparty transactions to the Securities and Exchange Commission.

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Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Economy, Federal Reserve, Law & Legal Issues, Politics in General, Stock Market, The 2009 Obama Administration Bank Bailout Plan, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government, Treasury Secretary Timothy Geithner

One comment on “AIG and NY Fed under fire for hiding bailout facts

  1. Intercessor says:

    Nothing has changed on Wall Street and DC. No one will be held accountable and the river of sin keeps flowing…until the second coming.