"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK

Monday, January 25, 2010

AIG Bailout National Security Status

Just when you think Tim Geithner couldn’t slither and lower. Bailing out AIG was a matter of national security! Does the U.S. have a special alert color for AIG?

Reported by Reuters:
U.S. securities regulators originally treated the New York Federal Reserve's bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security, according to emails obtained by Reuters.

The request to keep the details secret were made by the New York Federal Reserve -- a regulator that helped orchestrate the bailout -- and by the giant insurer itself, according to the emails.

The emails from early last year reveal that officials at the New York Fed were only comfortable with AIG submitting a critical bailout-related document to the U.S. Securities and Exchange Commission after getting assurances from the regulatory agency that "special security procedures" would be used to handle the document.

The SEC, according to an email sent by a New York Fed lawyer on January 13, 2009, agreed to limit the number of SEC employees who would review the document to just two and keep the document locked in a safe while the SEC considered AIG's confidentiality request.

The SEC had also agreed that if it determined the document should not be made public, it would be stored "in a special area where national security related files are kept," the lawyer wrote.

One day the grandkids will read the amended classics reflecting the Geithner-Schapiro conspiracy.

The Old Fun with Tim and Mary

Look Mary.
Look, Look
See Pelosi

See Mary Run
See Tim run
Run, run, run

Jump congress
Jump, jump, jump
Oh, congress

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