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« French Were Willing to Negotiate AIG Discounts: Barofsky | Main | AIG Emails Don't Lie, Just Ask Tim Geithner And The New York Fed Officials Who Tried To Keep Them Secret »
Monday
Jul302012

EXPOSED - Whistleblower Reveals Federal Reserve Staff Advised Bernanke NOT To Bailout AIG

Note: More of our look back at the AIG bailout, this time with a Bernanke focus.

Sen. Jim Bunning on Squawk Box.

Liesman gets torched.  Details on the Fed mole.  Evidence of substantial conflict within the Fed over the decision to bailout AIG.  Kernen and the Senator laugh it up.  Beginning at the 7:20 mark, Bunning makes reference to internal Fed emails:

  • "Bernanke's staff did not agree with him on bailing out AIG.  I am talking about an email that he sent his staff, after his staff recommended that the Federal Reserve not touch AIG, just like Lehman Brothers."

HuffPo - Secret Emails: Is Bernanke Hiding A Smoking Gun?

A Republican senator said Tuesday that documents showing Federal Reserve Board Chairman Ben Bernake covered up the fact that his staff recommended he not bailout AIG are being kept from the public.  And House Republican Darrell Issa charged that a whistleblower had alerted Congress to specific documents that provide "troubling details" of Bernanke's role in the AIG bailout.

Sen. Jim Bunning said on CNBC that he has seen documents showing that Bernanke overruled such a recommendation.  If that's the case, it raises questions about whether bailing out AIG was actually necessary, and what Bernanke's motives were.

---

Sen. Bunning back in his MLB playing days...

 

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Reader Comments (7)

Jan 27, 2010 at 6:40 AM | Registered CommenterDailyBail
Why No Jobs Creation in USA?
Criminals make money out of thin AIr by shipping Jobs Overseas

Obama and Volcker Must Go After the Big Banks
Volcker has the right idea, but Obama must take it much further if he wants to protect our economy from Wall Street excess.
http://www.alternet.org/news/145437/obama_and_volcker_must_go_after_the_big_banks

Geithner Must Go: He's Costing Us and Obama Too Much
http://www.alternet.org/economy/145431/geithner_must_go%3A_he%27s_costing_us_and_obama_too_much
Jan 27, 2010 at 8:53 AM | Unregistered CommenterKen
I love watching Steve Liesman get his (extra large) head handed to him by Jim Bunning. A thing of beauty that was.
Jan 27, 2010 at 9:04 AM | Unregistered CommenterJames H
Jan 28, 2010 at 1:24 AM | Unregistered CommenterJames H
Bunning On Bernanke, Geithner, Paulson And The Truth About TARP

http://dailybail.com/home/senator-jim-bunning-on-bernanke-geithner-paulson-and-the-tru.html
Jul 30, 2012 at 10:46 PM | Registered CommenterDailyBail
Jul 30, 2012 at 10:50 PM | Registered CommenterDailyBail
I wrote an in-depth article on the federal reserve and fractional reserve banking. We need to end the fed, you can't run an economy on a DEBT based system, it just isn't going to work. Hopefully my article will help others understand how the fed works.

http://www.empowernetwork.com/zeviamedia/blog/how-the-federal-reserve-killed-our-economy-and-devalued-the-dollar-by-96/
Aug 6, 2012 at 2:02 AM | Unregistered CommenterJayson

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