Barofsky Says Criminal Charges Possible in Alleged AIG Coverup - Bloomberg.com

Barofsky Says Criminal Charges Possible in Alleged AIG Coverup - Bloomberg.com

Tom Usher wrote or added | Now, as I've been writing about AIG recently, this is where the action is!

"...alleged New York Fed coverup in the AIG case could result in criminal or civil charges. ... In Senate...testimony..., Barofsky said SIGTARP would investigate seven AIG-linked mortgage-related securities....

"TARP had invested $204.9 billion in 707 banks, thrifts and credit unions through its Capital Purchase Program.... It has committed to paying out $39.9 billion to modify mortgages, though it has disbursed only $91 million. [To Hell with the common people.]

"Janet Tavakoli, ...Tavakoli Structured Finance Inc., says Barofsky hasn't been aggressive enough. ...SIGTARP should be running criminal probes of the bankers who underwrote and managed the collateralized debt obligations....

"...the New York Fed kept key aspects of the AIG bailout secret, including details of its own involvement and its decision to have AIG pay the insurer's bank counterparties 100 cents on the dollar...." There it is, right ther...

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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