Wednesday, June 9, 2010

Fed Details AIG Aid

The Federal Reserve Bank of New has added a new section to its web site detailing the assistance that the bank has extended to AIG during the financial crisis.

This aid was given, according to the bank, to "to preserve the stability of an already fragile U.S. economy and to protect the U.S. taxpayer from the potentially devastating consequences of the company’s disorderly failure."

This is all part of an effort by the Federal Reserve to be more transparent regarding its dealings with institutions.

The link is here

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