Previously redacted doc from AIG debacle leaked

The heavily-redacted regulatory filing that spells out the details of the New York Federal Reserve’s controversial bailout of American International Group is a secret no more. Reuters has obtained a copy of the five-page document the giant insurer and the New York Fed had asked the Securities and Exchange Commission to keep confidential.

from Rueters

Initially AIG and either the NY Fed Reserve bank or treasury had requested and been obliged from the SEC for this document to be secret until 2018. I'm pretty sure that this was leaked by Congressman Darryl Issa. He mentioned that he had a non redacted coppy during the House's AIG grilling of Turbo Tax Timmay (Sec Tres Tim Giethner) this morning.

Link to PDF of document

This is the stuff that during one of the several bailouts of AIG, that was bought at full price (par)even though the banks didn't even have them on their balance sheets at full value.

Another thing I've noticed is the large number of FOREIGN banks on that document, particularly SocGen. I know that Congressional hearings and financial documents are boring as hell, but this is important.

If poring over financial statements isn't your cup of tea all you need to understand is this. The US government borrowed money from China to pay off the bad bets that US and FOREIGN banks made with AIG (especially one very large French bank). That money borrowed from China to bail out non-US instituions will be repaid by US taxpayers with interest.

So, where are all the anti-capitalists at.

Are you going to call this capitalism? If we had free markets or actual capitalism. This would never have had happened.

Sick, just another straw(the mass of a singularity) on the camels back.

Our government is corrupt to the core.

God.. of all the countries we could have saved.... it was the French that got most of our money?



How the !@%$ can keeping this secret be "legal" .. How could the SEC allow this, everything financial that is public, all records must be made public.. Unless.... your the Federal Reserve, bailing out a number of foreign banks.

No sooner was Bernake re-appointed as FED chair than this little ditty hit Bloomberg.

AIG draws $2.5 Billion from Fed Credit Line......

American International Group Inc., the bailed-out insurer whose borrowing through a U.S. commercial paper program was set to expire this month, increased its draw on a Federal Reserve credit line by the most since October.

I wonder if this news was embargoed until the vote on Bernanke and the roasting of Timmay (Giethner) and Skeletor (Paulson) were over.