Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Thursday, January 7, 2010

New York Fed Told AIG Not to Disclose Details about Payments to Banks

Numerous media sources report that emails between the New York Federal Reserve Bank and AIG show that AIG planned to disclose details about the controversial payments it made to counterparties to cancel financial deals -- including Goldman Sachs and Deutsche Bank -- in SEC filings, but attorneys for NYFed, in pre-filing review, told AIG not to disclose so much information.  NY-Fed and Treasury spokespersons downplayed the emails. 

NYTimes, N.Y. Fed Told A.I.G. Not to Disclose Swap Details

WSJ, NY Fed Told AIG to Limit Details of Bank Payments

InvNews, Geithner's NY Fed told AIG to dummy up about bank counterparties 

http://lawprofessors.typepad.com/securities/2010/01/new-york-fed-told-aig-not-to-disclose-details-about-payments-to-banks.html

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