"The secret is out; it has long been assumed that the AIG bailout was a
stealth bailout for AIG's counterparties: another way to shovel
taxpayer dollars to Wall Street and European banks without going to
Congress for permission. Aig CEO Edward Liddy admitted as much
yesterday in his testimony before the House Oversight Committee under
questioning from California Republican Darrell Issa. Liddy said he
acted under explicit instructions from the Fed to pay AIG counterpary
obligations at 100 cents on the dollar (par), even though the contracts
were trading at substantial discounts and could have been settled for
much less."
Liddy On AIG Payouts At Par: "The Fed Made Us Do It" (Video) - Home - The Daily Bail - The Bailout News Central Depository. News, Interviews,Videos, Comedy, Songs, Opinion & Analysis
Hmmm, who benefits?
stealth bailout for AIG's counterparties: another way to shovel
taxpayer dollars to Wall Street and European banks without going to
Congress for permission. Aig CEO Edward Liddy admitted as much
yesterday in his testimony before the House Oversight Committee under
questioning from California Republican Darrell Issa. Liddy said he
acted under explicit instructions from the Fed to pay AIG counterpary
obligations at 100 cents on the dollar (par), even though the contracts
were trading at substantial discounts and could have been settled for
much less."
Liddy On AIG Payouts At Par: "The Fed Made Us Do It" (Video) - Home - The Daily Bail - The Bailout News Central Depository. News, Interviews,Videos, Comedy, Songs, Opinion & Analysis
Hmmm, who benefits?
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