Home -> Law Blog Directory -> Bailout Blogs -> Bailout Report
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense
Find a Local Lawyer
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402
Bailout
: Bailout ReportMaiden Lane LLCs: The Backdoor Bailout
By USLaw.com
In late 2008, the New York Fed, then headed by now Treasury Secretary Timothy Geithner, created a special entities, Maiden Lane II and Maiden Lane II LLCs, to funnel $70 billion to 16 big U.S. and European banks whose failed “hedge trades” would otherwise have prevented a single bonus from being paid.
The Federal Reserve, Securities and Exchange Commission, and Treasury Department colluded to keep thisbackdoor bailout, which now threatens the careers of Timothy Geithner, secret. In a frantic back pedal announced the day before Goldman Saches announced it’s 2009 bonus payout, the Federal Reserve seeks to explain the unusual circumstances behind the AIG payments.
Along with surrendering $25.9 billion of collateral that had been previously posted by AIG with the counterparties, the purchase of the $46.1 billion of par value essentially made the counterparties whole.?
The publicly disclosed information from the secretive “Schedule A“, also known as the Amended Shortfall Agreement, reports the the aggregate notional value, aggregate total collateral posted and aggregate negative mark to market with respect to the credit default swaps which the US government made good on for the benefit of the following banks:
Aggregate Aggregate Aggregate Total Negative Institution Notional Value Collateral Posted Mark to Market Deutsche Bank $ 8,518,356,966 $ 5,715,341,619 $ 3,644,691,001 Landesbank Baden-Wuerttemberg (George Quay) $ 89,034,985 $ 0 $ 40,937,631 Wachovia $ 926,335,734 $ 164,607,606 $ 404,018,461 Calyon $ 4,323,637,555 $ 3,128,037,164 $ 2,413,600,219 Rabobank $ 649,590,459 $ 336,620,199 $ 362,881,964 Goldman Sachs $ 13,978,535,327 $ 8,422,666,771 $ 7,998,529,640 Societe Generale $ 16,424,803,684 $ 9,568,581,132 $ 8,390,548,571 Merrill Lynch $ 6,223,719,622 $ 3,110,396,153 $ 3,398,791,448 Bank of America $ 772,111,117 $ 267,404,090 $ 396,835,377 The Royal Bank of Scotland $ 1,131,034,073 $ 624,290,063 $ 601,061,184 HSBC Bank USA $ 155,675,217 $ 149,724,900 $ 131,700,553 Deutsche Zentral-Genossenschaftsbank (Coral Purchasing) $ 1,795,127,468 $ 818,267,668 $ 993,019,847 Dresdner Bank AG (ReMo Finance Inc.) $ 398,443,938 $ 0 $ 169,597,157 UBS $ 3,833,585,715 $ 1,306,638,258 $ 1,977,043,626 Barclays (BGI Cash Equivalent Fund II and Barclays) $ 1,537,250,236 $ 889,155,039 $ 976,019,953 Bank of Montreal $ 1,372,477,391 $ 503,719,529 $ 644,506,924 The following other banks were also bailed out: Barclays, Rabbobank, Danske, Banco Santander, Morgan Stanley, and Lloyds Banking Group.
|
Full post as published by Bailout Report on January 24, 2010 (boomark / email).
The Paulson Toxic Mortgage Debt Security Act: The Biggest Government Bailout of All Time
Legislative Proprosal for Treasury Authority to Purchase Mortgage-related Assets
Emergency Economic Stabilization Act of 2008
Bailout Bill HR124
Lane Glider Recliners
Recalled for Tipping Hazard
Foster Sisters
Department of Children and Family Services and Penny Lane Centers pay $420,000 child abuse settlement.
Bank of America Faces Homeowner Class Action For Withholding Federal Bailout Funds
Bank of America Faces Homeowner Class Action
#1 Online Legal Resource
On 08-25 at 15:46PM
Acute perpendicular parking #NYPD #NYFD
On 08-18 at 22:18PM
Parallel parking gone bad. Too much gas UES NYC
On 08-18 at 21:41PM
UES NYC
On 08-18 at 21:25PM
Twitter suspends journalist critical of broadcast partner's coverage on dubious grounds @guyadams #nbcfail #twitterfail
On 07-30 at 17:57PM
Model example of 1st Amendment suppression by the People of New York City's Michael Bloomberg #OWS #NYPD
On 07-12 at 21:07PM
AG Holder lackadaisical on Operation in our Sites domain name seizures & RIAA lobbied free speech suppression @dajaz1
On 06-08 at 22:44PM
Why is the Catholic Church going to court over Obama contraception policy? @NewYorker commentary
On 05-31 at 10:08AM
Monks sue Louisiana for right to sell caskets made from forrest destroyed by Katrina
On 05-31 at 07:47AM
Are the abortion ultrasound laws headed for the Supreme Court?
On 05-15 at 21:52PM
Unlimited credit for GSEs seen as backdoor bailout
Proposed Legislation on LLCs Concerns LLC Expert
So Why is the Fed So Desperate to Keep Maiden Lane III Details Secret
Fed to Write Down Mortgage Balances
Delaware Law v. New York Law on LLCs
 |
|
Contact Us | About Us | Celebrity Law Blog |
Our Partners | Disclaimer
| Law Blog Directory
| Law Jobs
| Law Tweets
| Oil Spill Video
All original material © 1999-2011 by USLaw.com. All other material, including Blog Directory feed content, are © by their respective copyright holders. |