Posted by
Defend America on Wednesday, October 28, 2009 3:29:24 PM
N.Y. Fed pushed AIG on contracts
After federal bailout, insurance giant lost its leverage with banks
By
David Cho
Washington Post Staff Writer
Wednesday, October 28, 2009
The Federal Reserve Bank of New York said Tuesday that it had no choice but to instruct American International Group
last November to reimburse the full amount of what it owed to big banks
on derivatives contracts, a move that ended months of effort by the
insurance giant to negotiate lower payments.
http://www.washingtonpost.com/wp-dyn/content/article/2009/10/27/AR2009102703963.html?hpid=topnews'%5C