A Secret Public Bailout? Administration Officials Reportedly Agreed To Keep AIG Bailout Plan Secret Through National Security Protections

According to the article below, administration officials sought to use national security protections to withhold the details of the details of the American International Group bailout. It is only the latest example of how the government uses such protections to conceal information to avoid embarrassment or public review.

The New York Federal Reserve reportedly asked to keep the details secret and received assurances from the U.S. Securities and Exchange Commission that “special security procedures” would be used to handle the document. The SEC allegedly sent an email to a New York Fed lawyer saying that the details would be kept from most SEC staff and stored “in a special area where national security related files are kept.” Nothing like transparency in government.

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