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Monday, January 25, 2010

SEC Treated AIG Bailout Document Like a Matter of National Security

Emails turned over by the New York Federal Reserve to the House Committee on Oversight and Government Reform reveal that the U.S. Securities and Exchange Commission originally treated the New York Fed's request to keep secret details of the American International Group (AIG) bailout like a request to protect matters of national security.

Reuters reports that the New York Fed was only comfortable with AIG submitting a bailout-related document tot he SEC after it received assurances that "special security procedures" would be used to handle the document. The SEC also agreed that only two SEC employees would review the document and it would be kept in a locked safe.

For more on the protective measures of the AIG bailout details, click here.

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