"SLIGHTLY LESS" "PRECISELY ACCURATE", GIVE US A BREAK

BANZAI7 NEWS-The Federal Reserve Bank  defended itself on Tuesday against complaints that it had told the American International Group to cover up critical bailout details in public filings, saying it had suggested deleting a sentence about paying the insurer’s trading partners 100 cents on the dollar only because “it was not in fact precisely accurate.”

New York Fed's Chief Counsel Vinny Gambini said in a statement that it wanted to have “the greatest possible precision in A.I.G.’s related securities filings” and that “the counterparties ultimately received slightly less than 100 percent of par value” to unwind tens of billions of dollars in derivatives.  It did not say how much was “slightly less” but it is roughly ballparked at roughly a "tad" to be "precisely accurate."

Who comes up with this garbage?