tag:blogger.com,1999:blog-2611021408437270881.post581614148037529612..comments2024-03-18T23:59:39.885-07:00Comments on Skeptical CPA: The Continuing AIG CoverupIndependent Accountanthttp://www.blogger.com/profile/07800220849565219709noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2611021408437270881.post-7514327819467416882010-01-28T10:11:27.898-08:002010-01-28T10:11:27.898-08:00Astounding to see a bunch of high powered guys &qu...Astounding to see a bunch of high powered guys "testify" that they didn't have any knowledge of how Vampire Squid's, ML and foreign banks were made whole.<br /><br />Hank Paulson, who claims he was "trained to run towards problems", was floating around in "credit crisis oblivion" while the Fed announced:<br /><br /><a href="http://www.newyorkfed.org/markets/rmbs_terms.html" rel="nofollow">On November 10, the Federal Reserve Board and the U.S. Treasury announced the restructuring of the government’s financial support to the American International Group, Inc. (AIG) in order to facilitate its ability to complete its restructuring process successfully. As part of this restructuring, under section 13(3) of the Federal Reserve Act, the Federal Reserve Board authorized the Federal Reserve Bank of New York (New York Fed) to lend up to $22.5 billion to a newly formed Delaware limited liability company (LLC) to fund the purchase of residential mortgage-backed securities (RMBS) from the securities lending portfolio of several regulated U.S. insurance subsidiaries of AIG.</a> <br /><br />Amazing!Anonymousnoreply@blogger.com