PeterMP
January-9th-2010, 08:45 PM
http://money.cnn.com/2010/01/07/news/geithner.disclosure.fortune/index.htm?cnn=yes
"The $180 billion fiasco was back in the news Thursday, after Bloomberg reported that the Federal Reserve Bank of New York prodded the troubled insurer at the end of 2008 to withhold some gory details of its bailout deal from the public.
The instructions came at a time when Geithner, who is now the Treasury secretary, led the New York Fed. Along with Fed chief Ben Bernanke and former Treasury Secretary Henry Paulson, Geithner was one of the key architects of the federal response to the economic meltdown of 2008."
"Just a few months later, the Washington Post revealed that regulators at the Federal Housing Finance Authority had pressured executives at troubled mortgage financing company Freddie Mac (FRE (http://money.cnn.com/quote/quote.html?symb=FRE&source=story_quote_link), Fortune 500 (http://money.cnn.com/magazines/fortune/fortune500/2009/snapshots/3018.html?source=story_f500_link)) not to disclose the cost of carrying out its expanded federal housing-market support duties.
In that case, Freddie Mac made the disclosure, though only after negotiating with regulators over its wording."
"The $180 billion fiasco was back in the news Thursday, after Bloomberg reported that the Federal Reserve Bank of New York prodded the troubled insurer at the end of 2008 to withhold some gory details of its bailout deal from the public.
The instructions came at a time when Geithner, who is now the Treasury secretary, led the New York Fed. Along with Fed chief Ben Bernanke and former Treasury Secretary Henry Paulson, Geithner was one of the key architects of the federal response to the economic meltdown of 2008."
"Just a few months later, the Washington Post revealed that regulators at the Federal Housing Finance Authority had pressured executives at troubled mortgage financing company Freddie Mac (FRE (http://money.cnn.com/quote/quote.html?symb=FRE&source=story_quote_link), Fortune 500 (http://money.cnn.com/magazines/fortune/fortune500/2009/snapshots/3018.html?source=story_f500_link)) not to disclose the cost of carrying out its expanded federal housing-market support duties.
In that case, Freddie Mac made the disclosure, though only after negotiating with regulators over its wording."