Wednesday, June 30, 2010

In U.S. Bailout of A.I.G., Forgiveness for Big Banks - NYTimes.com

In U.S. Bailout of A.I.G., Forgiveness for Big Banks - NYTimes.com: "Even after the New York Fed released a list of the banks made whole in the bailout, it continued to resist disclosing information about the actual bonds in the deals, including codes known as “cusips” that label securities. “We need to fight hard to keep the cusips confidential,” one New York Fed official wroteon March 12, 2009.
Regulators said they wanted confidentiality because they did not want investors trading against the government’s portfolio. Others dispute that, saying that Wall Street insiders already knew what bonds were in the portfolio. Only the public was left in the dark."


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