By: Eliot Spitzer, William K. Black and Frank Partnoy.

In a December New York Times op-ed, we called for the full public release of AIG email messages, internal accounting documents and financial models generated in the last decade. Today, a Bloomberg story revealed that under Timothy Geithner's leadership, the Federal Reserve Bank of New York told AIG to withhold details from the public about its payments to banks during the crisis. This information was discovered when emails between the company and the Fed were requested by representative Darrell Issa, ranking member of the House Oversight and Government Reform Committee.

The emails requested by Issa span five months beginning in November 2008. The Fed's request to suppress this information would not have come to light without the release of these emails. If five months of emails reveal information key to our understanding of the aftermath of the crisis, imagine what 10 years of emails could contribute to our understanding of its causes. We believe the AIG emails and other internal company documents are the 'black box' of the financial crisis -- if we understand the failure of AIG, we will more fully understand the crisis - what caused it and more importantly how to prevent it from happening again.

As such, today we are renewing our request for the full public disclosure of all AIG documents. We believe the government should put these documents on-line, thereby establishing an open-source investigation that would allow journalists and citizens the opportunity to piece together the story of what happened at AIG and in so doing more fully understand what happened in the broader financial collapse. AIG - and more specifically its credit-default swaps exposure - was an important contributing factor to the crash of the financial markets. What sets this company apart from others that played a role in the crisis is that we, the taxpayers, own it. As we noted in our original piece, US taxpayers bought 80% of AIG when they bailed the company out with $180 billion last year. As owners of the company, taxpayers are also owners of AIG. As owners of the company we can demand the release of these documents.

The taxpayer's stake in AIG is held by the A.I.G. Credit Facility Trust, whose three trustees are Jill M. Considine, a former chairman of the Depository Trust Company and a former director of the Federal Reserve Bank of New York; Chester B. Feldberg, a former New York Fed official who was chairman of Barclays Americas from 2000 to 2008; and Douglas L. Foshee, chief executive of the El Paso Corporation and chairman of the Houston branch of the Federal Reserve Bank of Dallas. We call on these three officials (interestingly all former Fed officials) to immediately release the documents we request.

The value of these documents, if it were ever in doubt, was certainly proved by today's revelations.

Release the emails.

Source: Huffington Post.com, Jan 7 2010

Views: 42

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Less Prone favorited tjdavis's photo
3 hours ago
Less Prone favorited rlionhearted_3's photo
3 hours ago
John Miller commented on rlionhearted_3's photo
Thumbnail

Another incredibly Stupid!! What, no mirrors?

"Brutal post... not sure it’s helping anyone though."
6 hours ago
John Miller replied to cheeki kea's discussion Tartaria
"Tartaria: the empire that built half the world's cathedrals, then vanished because someone…"
6 hours ago
Burbia commented on rlionhearted_3's photo
Thumbnail

Another incredibly Stupid!! What, no mirrors?

"This movie portrayed plastic surgery as absurd. I guess the numbers in the real world are growing."
23 hours ago
Burbia commented on tjdavis's photo
Thumbnail

Redux

"Ah yes, General Jussitri Smolletkov. Good tongzhi. Good tongzhi."
23 hours ago
Doc Vega posted a blog post

Unusual Discoveries and Headlines

Archaeologists have discovered an ancient tool dated to be 6,000 years old, but even more…See More
yesterday
tjdavis posted a video

Inside Texas HOMELESS HELL – Even Cops Don't Dare Step In! - Documentary

In this powerful documentary, we explore the escalating Texas homeless crisis 2025, where cities and rural areas alike are witnessing a disturbing rise in th...
yesterday
tjdavis posted a photo
yesterday
John Miller replied to MAC's discussion BREAKING! UFO whistleblowers drop BOMBSHELL on D.C. | Redacted with Natali and Clayton Morris
"Crazy how these whistleblower stories are finally making it into bigger conversations. Makes you…"
Sunday
Burbia favorited tjdavis's blog post The Dems Love Their Demons
Sunday
John Miller commented on tjdavis's photo
Thumbnail

Comprehensive Coverage

"That car needs an exorcism, not an oil change."
Saturday
John Miller commented on tjdavis's blog post The Dems Love Their Demons
"If the Dems are dating demons, then that AI romance shoot was basically engagement photos."
Saturday
John Miller replied to cheeki kea's discussion Would-Be Trump Assassin Ryan Routh Gave Many Interviews with Mainstream Media
"Wouldn't be surprised if there's a whole lot more buried under the surface here."
Saturday
Less Prone favorited rlionhearted_3's photo
Saturday
Less Prone left a comment for John Miller
"Welcome John."
Saturday
Doc Vega posted a blog post

The Saga of Ape Canyon Revisited

 In the years that I’d written for the Plano Star Courier I got several invitations to go on…See More
Saturday
John Miller is now a member of 12160 Social Network
Saturday
Less Prone favorited tjdavis's photo
Saturday
tjdavis posted a photo
Saturday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted