Hat tip to Huffington Post. Paulson and Geithner had their testimonies today at the Oversight Committee hearing. I will give my thoughts in Thursday's posting.
A key question at the heart of the controversial bailout of AIG is just how much money the government lost. The Federal Reserve and Treasury Department have worked to keep that number secret and to conceal who was on the winning end.
An unredacted document obtained by the Huffington Post shows the damage in detail.
Read on.
Here is the heavily-redacted version that was made public last March.
The New York Fed initially pressured AIG to keep the list hidden from investors, regulators and the public. When it was eventually filed with the Securities and Exchange Commission, the SEC allowed the Fed and AIG to keep the details secret.
Notice that the heavily-redacted doc that Geithner did not sign off on the doc. Here is whom signed off on the doc:
By: FEDERAL RESERVE BANK OF NEW YORK,
as its sole Managing Member
By: /s/ Sandra C. Krieger
Name: Sandra C. Krieger
Title: Executive Vice President
AIG FINANCIAL PRODUCTS CORP.
By: /s/ William N. Dooley
Name: William N. Dooley
Title: Chief Executive Officer
schedA -
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