Fed Minutes Shed Light On AIG, Citigroup Bailouts

Law360, New York (March 12, 2009, 12:00 AM EDT) -- In a rare move intended to provide more transparency in the bailout process, the Federal Reserve Board has released the minutes from key meetings detailing its intervention in the crisis at American International Group Inc., Merrill Lynch & Co. Inc., Fannie Mae, Freddie Mac, Citigroup Inc. and Wachovia Corp., among others, in the latter half of 2008.

While the minutes, taken from meetings between July and December 2008, only provide a summary of the proceedings, they show the Board's sense of urgency in handing out massive...
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