Trying to keep up with the issues surrounding the Federal Reserve’s bailout of AIG? Here is some useful and fact-full information:
- The SIGTARP investigated the bailout (not the coverup) in the fall and issued this report. The summary page on lessons learned:
FRBNY’s negotiating strategy to pursue concessions from counterparties offered little opportunity for success, even in the light of the willingness of one counterparty to agree to concessions
assistance to AIG . . . transferred tens of billions of dollars of cash from the Government to AIG’s counterparties even though senior policy makers contend that assistance to AIG’s counterparties was not a relevant consideration in fashioning the assistance to AIG. . .
- The FT has a nice article on the hindered haircut and a previous bailout with haircuts.
- The actual numbers—who got their contracts fully paid off.