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SEC Orders AIG Info Sealed Until November... 2018!

hypocritexposer

Well-known member
SEC Orders AIG Info Sealed Until November... 2018!
Joe Weisenthal | Jan. 12, 2010, 5:28 AM

Good news. It looks as though we'll be getting access to secret data on the bailout of AIG and its counterparties.

The bad news: We're going to have to wait until November of 2018, according to Matthew Goldstein at Reuters.

In May, the SEC approved a request by AIG to keep secret an exhibit to a year-old regulatory filing that includes some of the details on the most controversial aspect of the AIG bailout: the funneling of tens of billions of dollars to big banks like Societe Generale, Goldman Sachs (GS.N), Deutsche Bank (DBKGn.DE) and Merrill Lynch.

The SEC's Division of Corporation Finance, in granting AIG's request for confidential treatment, said the "excluded information" will not be made public until Nov. 25, 2018, according to a copy of the agency's May 22 order.

The SEC said the insurer had demonstrated the information in the exhibit, called Schedule A, "qualifies as confidential commercial or financial information."

By then, Wall Street will ahve significantly recycled many people (and probably some more firms) and perhaps the American public just won't care about how Tim Geithner helped bail out a gigantic black hole of a firm, upon which so many ostensibly rock solid firms had their foundation.

http://www.reuters.com/article/idUSN1116982020100111
 

hypocritexposer

Well-known member
TSR said:
commonsense said:
More transparency for ya!

Wonder who appointed the five current SEC commissioners who are to oversee the SEC?


Mary L. Schapiro is the 29th Chairman of the U.S. Securities and Exchange Commission. Chairman Schapiro was appointed by President Barack Obama on January 20, 2009, unanimously confirmed by the U.S. Senate, and sworn in on January 27, 2009. She is the first woman to serve as the agency’s permanent Chairman.
 

TSR

Well-known member
hypocritexposer said:
TSR said:
commonsense said:
More transparency for ya!

Wonder who appointed the five current SEC commissioners who are to oversee the SEC?


Mary L. Schapiro is the 29th Chairman of the U.S. Securities and Exchange Commission. Chairman Schapiro was appointed by President Barack Obama on January 20, 2009, unanimously confirmed by the U.S. Senate, and sworn in on January 27, 2009. She is the first woman to serve as the agency’s permanent Chairman.

And the other four?
 

Faster horses

Well-known member
The more they cover up the more suspicious we become.
These people don't care about America as she stands today,
or maybe it was yesterday already...
 

Tam

Well-known member
Reinvigorating the Financial Regulatory Structure to Increase Transparency and Public Accountability to the Investor

There is no debate. Our financial system is in a crisis and investors are feeling the pain. However, this crisis presents a tremendous opportunity, or a mandate, for us to better the system. We must remember why the capital markets exist, which is to allow all Americans to participate in the ownership of our economy, and to provide efficient capital to anyone with a good idea and an entrepreneurial spirit, so they have a chance to make that idea a reality.

We must act now to re-establish transparency and accountability to investors by looking to Congress and the SEC for immediate action. First, I will quickly highlight the Congressional action required to close regulatory loopholes and adequately fund the SEC. Second, I will discuss internal shifts in policy and practice the SEC should undertake in order to:

Empower Enforcement and Examination staff; and

Implement proposals to enhance the voice of investors in shaping future policies.

Third, I will discuss what the SEC can do to enhance investors' ability to demand transparency and accountability.

Taken from a speech by Luis A. Aguilar SEC Commissioner since 2008, ask yourself what has changed since July 2008 when Bush appointed Luis and he took his seat on the SEC.? Think back, who took office that also promised transparency and accountability? How has transparency and accountability been working out in the US lately?
:? :? Tax cheats and lobbyists being appointed to high government offices. The SEC seals reports that will probably provide proof that AIG lied to investors under the email instructions from the Fed when it was being run by Obama's tax cheating Sec of Treasury Gienther, and that AIG has paid out Goldman Sachs who just so happens to be the former employer of Gienther's top aid, 100% when other investors were paid pennies on the dollar.
Add to that Broken promises about C-Span televising important Debate while CLOSE DOOR meeting are being held with Union bosses that openly admitted on FOX yesterday they put Obama in the Oval Office. And don't forget it was SEIU thugs that went out and threatened town hall meeting goers that dared to speak up against Obamacare.

I fear this government is not working FOR THE PEOPLE but for those people Obama likes to name call in public but kisses the butts of come election time. :x
 

TSR

Well-known member
RobertMac said:
TSR said:
commonsense said:
More transparency for ya!

Wonder who appointed the five current SEC commissioners who are to oversee the SEC?
Wall Street????? Goldman-Sachs?????? George Soros????? :???:

You might be right, indirectly Robert. Actually they are appointed by the president with Senate approval. Obama appointed the current chairman according to hypo's post the rest were probably appointed by the Bush family it would seem. Either way shoudn't some Senator speak up if this incident is true?
 

Tam

Well-known member
TSR said:
RobertMac said:
TSR said:
Wonder who appointed the five current SEC commissioners who are to oversee the SEC?
Wall Street????? Goldman-Sachs?????? George Soros????? :???:

You might be right, indirectly Robert. Actually they are appointed by the president with Senate approval. Obama appointed the current chairman according to hypo's post the rest were probably appointed by the Bush family it would seem. Either way shoudn't some Senator speak up if this incident is true?

They were appointed by President George W Bush not the Bush family. :roll:

BTW the make up of the committee is five members of which no more than three can be from one party, which means PRESIDENT Bush had to have appointed Dems as well as Republicans. The question is what party has the controling vote. Democrats or Republicans? Since Obama appointed the last sitting committee member and the committee backtracked on the transparency and accountability just like Obama has in countless occasions what makes me it's the Dems that control it. :? :wink:
 

hypocritexposer

Well-known member
TSR said:
RobertMac said:
TSR said:
Wonder who appointed the five current SEC commissioners who are to oversee the SEC?
Wall Street????? Goldman-Sachs?????? George Soros????? :???:

You might be right, indirectly Robert. Actually they are appointed by the president with Senate approval. Obama appointed the current chairman according to hypo's post the rest were probably appointed by the Bush family it would seem. Either way shoudn't some Senator speak up if this incident is true?

from the Reuters article:

SEC spokesman John Nestor declined to comment on the reasons for granting AIG's request to treat the exhibit as confidential.

In a typical year, the SEC receives 1,500 requests from U.S. companies for confidential treatment for portions of regulatory filing, said Nestor. The agency grants those requests, "all or in part," 95 percent of the time, he said.

I posted this as an information article not to blame Bush. We already know that everything is his fault
 

Tam

Well-known member
hypocritexposer said:
TSR said:
RobertMac said:
Wall Street????? Goldman-Sachs?????? George Soros????? :???:

You might be right, indirectly Robert. Actually they are appointed by the president with Senate approval. Obama appointed the current chairman according to hypo's post the rest were probably appointed by the Bush family it would seem. Either way shoudn't some Senator speak up if this incident is true?

from the Reuters article:

SEC spokesman John Nestor declined to comment on the reasons for granting AIG's request to treat the exhibit as confidential.

In a typical year, the SEC receives 1,500 requests from U.S. companies for confidential treatment for portions of regulatory filing, said Nestor. The agency grants those requests, "all or in part," 95 percent of the time, he said.

I posted this as an information article not to blame Bush. We already know that everything is his fault

When the tax payers are forced to bail their butts out they should have to open all files so those who's money they are spending can see what they are doing with it. Is that not what you call accountability and Transparency these days?
 

TSR

Well-known member
Tam said:
TSR said:
RobertMac said:
Wall Street????? Goldman-Sachs?????? George Soros????? :???:

You might be right, indirectly Robert. Actually they are appointed by the president with Senate approval. Obama appointed the current chairman according to hypo's post the rest were probably appointed by the Bush family it would seem. Either way shoudn't some Senator speak up if this incident is true?

They were appointed by President George W Bush not the Bush family. :roll:

BTW the make up of the committee is five members of which no more than three can be from one party, which means PRESIDENT Bush had to have appointed Dems as well as Republicans. The question is what party has the controling vote. Democrats or Republicans? Since Obama appointed the last sitting committee member and the committee backtracked on the transparency and accountability just like Obama has in countless occasions what makes me it's the Dems that control it. :? :wink:

You might be right Tam. I was just trying to give credit where credit is due. Just because there are three Dem's and two Rep's does this make the Republicans unable to exercise their first ammendment rights-free speech? I would think they would be going public against such a move by the SEC. Personally I don't have much use for either party in Congress right now.
 

RobertMac

Well-known member
TSR said:
Personally I don't have much use for either party in Congress right now.
I agree, I believe the vast majority of those in DC are corrupt...elected officials and bureaucrats. Money is power...the only thing worse than lobbyist money buying politicians is politicians using taxpayer's dollars to buy off other politicians. The Revolution started because of taxation without representation...more and more American taxpayers are feeling the same way today. The economic policies of this admin. are going to impoverish taxpayers and destroy small business...both the foundation of USA capitalism.
 

Tam

Well-known member
TSR said:
Tam said:
TSR said:
You might be right, indirectly Robert. Actually they are appointed by the president with Senate approval. Obama appointed the current chairman according to hypo's post the rest were probably appointed by the Bush family it would seem. Either way shoudn't some Senator speak up if this incident is true?

They were appointed by President George W Bush not the Bush family. :roll:

BTW the make up of the committee is five members of which no more than three can be from one party, which means PRESIDENT Bush had to have appointed Dems as well as Republicans. The question is what party has the controling vote. Democrats or Republicans? Since Obama appointed the last sitting committee member and the committee backtracked on the transparency and accountability just like Obama has in countless occasions what makes me it's the Dems that control it. :? :wink:

You might be right Tam. I was just trying to give credit where credit is due. Just because there are three Dem's and two Rep's does this make the Republicans unable to exercise their first ammendment rights-free speech? I would think they would be going public against such a move by the SEC. Personally I don't have much use for either party in Congress right now.

Seems to me any time a person speaks up against this Administration they are tossed to the wolves. So I ask is there real Freedom of Speech in the US anymore. :wink:
 
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