| E-Mails Expose ‘Shadow Banking’ |
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| Written by UCPA |
| Monday, 18 January 2010 06:02 |
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WASHINGTON, Jan. 14 — Last week, on the eve of most major banks releasing their announcements of year-end bonuses, e-mails between the Treasury Dept. and AIG have exposed the “shadow banking system” that exists in the U.S. today. The e-mails implicate Treasury Secretary Tim Geithner in trying to conceal using AIG to funnel $62 billion from Washington to 16 big banks as part of that company’s bailout. Other e-mails outline how the Treasury Dept. intended to purchase toxic assets at 100 percent of their value from banks that bought them from AIG without telling Congress. |
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United Communist Press Association