Monday, November 2, 2009

AIG Again

Today, Zero Hedge has an article with the following headline:
"Darrell Issa's Letter To The NY Fed's Bill Dudley Demanding AIG Bailout Disclosure"

Darrell Issa is the ranking member of the Committee on Oversight and Governmental Reform. His letter to AIG demands disclosure of financial information from AIG on additional and backdoor public funding AIG may have received from the Federal Reserve Bank of New York. Here is what Issa says:

"Thus, behind closed doors and with no approval from Congress, the FRBNY [Federal Reserve Bank of N.Y.] may have added an additional $13 billion of debt on the backs of taxpayers. These allegations, if true, amount to NOTHING LESS THAN A BACKDOOR BAILOUT OF AIG'S CREDITORS, including Goldman Sachs, Merrill Lynch, Societe Generale, and Deutsche Bank."

When will the ransacking of the U.S. public end? Why is it allowed to continue? I cannot believe this is happening.

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