Fed Worked to Keep AIG Deal Details Quiet

Discussion in 'Wall St. News' started by kaciara, Jan 27, 2010.

  1. kaciara


    Federal Reserve Bank of New York officials scrambled to do damage control in the days after their $180 billion rescue of American International Group in September 2008, including an effort to control information by asking AIG to run significant outside communications through the Fed's outside counsel.

    The damage control effort is revealed in e-mail between an in-house New York Fed lawyer, its outside counsel, a partner in charge of the restructuring practice at Davis Polk Wardwell, and other New York Fed and Treasury officials.