GEITHNER'S AIG HEMORRHOIDS

BANZAI7 NEWS--Below is the sentence from an email exchange between NY Fed and AIG officials (originally written by AIG) that was crossed out by the Feds lawyers.

As a result of this transaction, the AIGFP counterparties received 100 percent of the par value of the Multi-Sector CDOs sold and the related CDS have been terminated. ML III has now acquired approximately $[62.1] billion in par amount of Multi-Sector CDOs and has aggregate liabilities resulting from its borrowings from the NY fed of approximately $[___] billion.  

So much for the American model of disclosure transparency. The calls for Geithner's head are getting louder. Looks like Timmy's itch isn't going to go away any time soon.