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 Doc Vega's photo
22 hours ago
Less Prone commented on rlionhearted_3's photo
Thumbnail

What the fuck?

"When will the perverts picked out of the government and positions of power for thorough…"
23 hours ago
Less Prone favorited Doc Vega's blog post The Re-Evaluation of our Current Reality
23 hours ago
Less Prone favorited Doc Vega's blog post Former Naval Physicist and Photo Analyst Bruce Maccabee’s Wife Sees Alien Predator!
23 hours ago
Doc Vega's 6 blog posts were featured
23 hours ago
cheeki kea's blog post was featured
23 hours ago
james will's 2 blog posts were featured
23 hours ago
Less Prone left a comment for Роман
"Welcome on board. Your input is welcome, but could you provide a translation in…"
23 hours ago
Less Prone left a comment for Tina Sullivan
"Did you lose the password= As far as I know we have changed nothing her. Continue as Sullivan."
23 hours ago
Doc Vega posted a blog post

Death of an F-106 Pilot in Pursuit of the Unknown

 The year in between 1970 and 1972 on July 14 on a single night when a series of events led to the…See More
yesterday
Tina Sullivan left a comment for Less Prone
"Hey, buddy!  You're right, I can't get into my account!  "
yesterday
rlionhearted_3 posted photos
yesterday
Doc Vega posted a blog post

The Re-Evaluation of our Current Reality

 Surprisingly, there has been talk of mankind being enveloped in an artificial reality for decades…See More
Wednesday
tjdavis posted videos
Wednesday
Sandy posted a video

Source: Havana Syndrome investigation is "a massive CIA cover-up" | 60 Minutes

For years, the U.S. government has doubted the stories of those suffering from AHI, commonly called Havana Syndrome. Now, victims hope that reports of a newl...
Wednesday
Doc Vega posted a blog post

Regrets That Cling to Me

Talking with my shadow in the nightI know it sounds contriteA vacuum without the lightThe silence…See More
Monday
tjdavis posted a photo
Monday
Doc Vega posted a blog post

Reality Is now Becoming Unhinged

 Let’s take a trip down the modern-day rabbit hole we call everyday news and events, but on a more…See More
Sunday
cheeki kea commented on Sandy's video
Thumbnail

Ghislaine Maxwell & The Secret "Shadow" 9/11 Commission? | John Kiriakou

"You tuber Sabby Sabs sums up and joins dots. Don't miss this one."
Sunday
Doc Vega posted a blog post
Mar 5

© 2026   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