SEC order helps maintain AIG bailout mystery (keeps payouts to Goldman/banksters secret until 2018)

[Robbien]

Source: Reuters

NEW YORK, Jan 11 (Reuters) - It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group (AIG.N) because of an action taken last year by the Securities and Exchange Commission.

In May, the SEC approved a request by AIG to keep secret an exhibit to a year-old regulatory filing that includes some of the details on the most controversial aspect of the AIG bailout: the funneling of tens of billions of dollars to big banks like Societe Generale, Goldman Sachs (GS.N), Deutsche Bank (DBKGn.DE) and Merrill Lynch.


The SEC said the insurer had demonstrated the information in the exhibit, called Schedule A, "qualifies as confidential commercial or financial information."

. . .

In a typical year, the SEC receives 1,500 requests from U.S. companies for confidential treatment for portions of regulatory filing, said Nestor. The agency grants those requests, "all or in part," 95 percent of the time, he said.

. . .

When AIG filed the Schedule A exhibit with the SEC, it redacted the information it wanted to keep confidential, in anticipation regulators would approve its request.

Read more: http://www.reuters.com/article/idUSN1116982020100111

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[Joanne98]

1. You got to be kidding me!

[Donnachaidh]

2. transparency huh?

:rofl:

[Nihil]

14. Yep ... it's all that "change" again isn't it? (n/t)

:shrug:

[T Wolf]

3. This is not Obama's fault. He has no influence over the actions of the government. Stop blaming

him for things. :sarcasm:

[asjr]

4. Business as usual.

[wackywaggin]

5. If AIG Redacted the information prior to filing the exhibit

as this statement states, how would the regulators know if the information was confidential or not to make their ruling? This defies logic and reason!

Heretic Wack

[Robbien]

6. The SEC has previously stated that their clients are businesses

not the American people.

And the way the new head of the SEC is acting, nothing has changed.

[No Elephants]

9. Their clients may be businesses, but the taxpayers are the bosses. They pay the bills and salaries.

[pjt7]

7. SEC

works for the BIG criminals.

Case in Point, Bernie Madoff.

[DJ13]

8. So even with Democrats in charge we still have a Republican government?

Wheres the change?

[No Elephants]

10. Democrats and Republicans were so 1979, Now, we have Republicrats and Demlicans.

And the Republicrats are quickly swallowing all the Demlicans. If we don't make a stand soon, we are heading for a one party nation.

[Nihil]

13. "heading for a one party nation"?

Stable door, horse, etc. ...

[No Elephants]

11. 2018, a year after the end of Obama's second term, if he is re-elected

I'm sure that's a coincidence, though.

One thing you can take to the bank (so to speak): whenever your government keeps secrets from voters and then seals the records for a period of years, Americans have no reason whatever to worry about a thing. This tells you your government is strong, in control and looking out only for your best interests.

[PeaceDreamer]

12. Geitner

Obama needs to dump him quick or the repukes will make AIG Obama's achilles heel.