U.S. Opens Probe into AIG's Payout to Partners

kpete

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Tue Jan-26-10 09:36 AM
Original message

U.S. Opens Probe into AIG's Payout to Partners

Edited on Tue Jan-26-10 09:38 AM by kpete

Source: Wall Street Journal

U.S. Opens Probe into AIG's Payout to Partners

BY MICHAEL R. CRITTENDEN AND JOHN D. MCKINNON

A U.S. government investigator is opening a probe into disclosures made as part of the government's rescue of American International Group Inc. when the company's trading partners were paid billions in November 2008.

Neil Barofsky, the special inspector general for the $700 billion Troubled Asset Relief Program, plans to tell a U.S. House panel Wednesday that he is investigating whether there was any "misconduct relating to the disclosure or lack thereof" surrounding the deals, in which banks who had traded with the giant insurer got paid in full on $62 billion in bets on soured mortgage securities.

Mr. Barofsky said ...

Read more: http://online.wsj.com/article/SB10001424052748704762904575025973825013234.html?mod=WSJ_latestheadlines

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earcandle

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Tue Jan-26-10 11:49 AM
Response to Original message

1. Go Barofsky! Don't let them bribe or threaten you out of telling the truth. They made money on

Edited on Tue Jan-26-10 11:50 AM by earcandle

the backs of the poor and the taxpayers.  The banks got paid
in full for sub prime loans, and we lost all around.

Please prosecute all people who are part of that economy. And
the congress critters who violated the rules and regulations
and laws, especially those who by passed laws, or who joined
together to defraud the American public by rendering those
laws inoperable.

I want my real country back and I want every C street animal
and their horde to pay for every sordid twist and turn they
took to take us down.

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