An arm of the Federal Reserve, then led by now-Treasury Secretary Timothy Geithner, told bailed-out insurance giant AIG to withhold key details from the public about overpayments that put billions of extra tax dollars in the coffers of major Wall Street firms, most notably Goldman Sachs.
The sordid tale unfolds in a series of e-mails between the company and the New York Fed obtained by Rep. Darrell Issa (R-CA), the ranking member of the House Committee on Oversight and Government Reform, and first publicly disclosed by Bloomberg News. http://www.huffingtonpost.com/2010/01/07/geithners-new-york-fed-to_n_414449.html
TELLING AIG executives, to HIDE details from the SEC of DOLLAR-for-DOLLAR BAILOUTS for the failed and fraudulent AIG's derivative & "naked CDO's" credit default losses.
AIG was getting DOLLAR-for-DOLLAR BAILOUTS extorted out of American taxpayers - with the cooperation and even encouragement of "the bankers go-to guy for insider corruption," Tim Geithner - for PURE CASINO GAMBLING BET LOSSES AIG, Golddamn-Sachs, and other financial companies made, on "derivative" deals where the hedge-funds often had NO STAKE in the stocks they were shorting.
And all of this had THE STAMP OF APPROVAL of PRESIDENT OBAMA, who selected Geithner to be his Treasury Secretary, and CONTINUES TO APPROVE of MASSIVE FINANCIAL FRAUD in the financial markets, and MASSIVE THEFT from American taxpayers.
Treasury Department provides an offensive, propaganda response to the new, latest Treasury Secretary Geithner scandalous news -
by: Chris Bowers, OpenLeft.com
Thu Jan 07, 2010 scandal -