Fed Keeps AIG Loan Details Under Wraps

Real Time Economics : Fed Keeps AIG Loan Details Under Wraps:

"Senate Banking Committee Chairman Christopher Dodd (D., Conn.), who sought the provision, notes that the two reports he received — on the Fed’s new commercial paper program and its second loan to insurer American International Group Inc. — ‘make the Fed’s actions more transparent, which protects American taxpayers and allows the public and the market to be better informed during these difficult times.’

But he then goes on to acknowledge that the public actually won’t be informed about the Fed’s report about the $37.8 billion offered to AIG last week, on top of the $85 billion in credit extended initially. The central bank is requiring that it be kept confidential. (Most of the details in the report about the commercial paper program have been released publicly already.)"