In the newest development of the investigation into the New York Fed’s involvement in the AIG bailout of last year, emails passed between NY Fed officials have been revealed to state that the AIG bailout was better for banks “from a financial-stability perspective.”
The email, sent back in October of 20008 from then-vice president Margaret McConnell to Geithner, could contradict Geithner’s claim late last year that the NY Fed did not consider the financial status of banks when determining whether or not they would bail out insurance giant AIG.
http://www.mybanktracker.com/bank-ne...fect-on-banks/
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