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Fed Perpetuates Lies Covering Lies
THE FEDERAL RESERVE WANTS YOU TO CONTINUE BELIEVING A LIE
The lie is that some company is worthy of your confidence when it is not.
See this article in BusinessWeek Undermine Confidence if truth be told
Read down to the end of the sixth paragraph for this statement
federal bailout
American International Group Inc, referred to as an insurance giant, but this is misleading from "financial" manipulation giant
paid more than 24 U.S. and foreign financial institutions who played financial illegal games for greed and profit
and then collected overe $50 billion from taxpayers money
AIG
world's largest insurer paid off cohorts in a crooked and illegal scheme to take a percentage profit.
the term Credit Default Swaps is used in their circles to describe the illegal paper they were trading
recipients of AIG money include
Goldman Sachs Group Inc.
Germany's Deutsche Bank AG,
each received roughly $6 billion in payments between mid-September and December 2008.
Merrill Lynch, now part of Bank of America Corp.,
French bank Societe Generale SA
Morgan Stanley,
Royal Bank of Scotland Group PLC
HSBC Holdings PLC,
Calyon,
Credit Agricole of France;
UBS;
Barclays;
Coral Purchasing,
DZ Bank of Germany;
Bank of Montreal;
Rabobank of the Netherlands.
The Fed refused a congressional request for the names of all AIG's derivative counterparties.
Federal Reserve Vice Chairman David Kohn declined to reveal who had been made whole after deals with AIG went bad,
SAID that the information would undermine what little confidence remains in the financial markets.
AIG on Monday reported a $61.7 billion quarterly loss, the worst in U.S. history.
The same day, Treasury provided AIG as much as $30 billion in additional aid from the $700 billion financial bailout program,
the company's total bailout is more than $170 billion since September.
The government now owns nearly 80 percent of the company.
AIG has been forced to seek more help with stock less than $1.
Among its biggest problems: It can't sell assets to pay back government loans
because the credit crisis is preventing would-be buyers from getting financing to complete such deals.
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