- What Black Friday Shoppers Spent on – And Where
- Dubai Stocks Shed 7%, Abu Dhabi Tumbles 8%
- Regulators Compile Global List of 'Systemic Risk' Banks
- Dubai's Nakheel Seeks Suspension $5.25 Billion in Bonds
- Partridge Demand Slump Doesn't Offset '12 Days' Costs
- US Senator Opposes Fed Chief Bernanke Renomination
- A Weak IPO Debut for Las Vegas Sands' Macau Unit
- Woods Has Nothing More to Say to Police: Agent
- Big US Banks May Be Forced to Raise Capital: Bove
- Tamminen: Copenhagen And Beyond
- Dubai is Harsh Reminder of Prolonged Global Recovery
- Tiger Woods Wants to Protect Family Privacy: Agent
- Portfolio Prep for Next Week: 'Don't Get Crazy'
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
MOST SHARED
- US Shoppers Spent Less Over Black Friday: NRF
- Tiger Woods Wants to Protect Family Privacy: Agent
- Dubai Stocks Shed 7%, Abu Dhabi Tumbles 8%
- South Korea Sees Exports Bouncing, but Risks Remain
- Dubai's Nakheel Seeks Suspension $5.25 Billion in Bonds
- US Senator Opposes Fed Chief Bernanke Renomination
- Dubai is Harsh Reminder of Prolonged Global Recovery
- Sands China Ends 10.2% Lower in Hong Kong Debut
- Japan Won't Intervene to Weaken Yen: Finance Minister
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WASHINGTON, Nov 16 (Reuters) - The Federal Reserve Bank of New York used a weak negotiating strategy to try to wring concessions from AIG counterparties last year, costing U.S. taxpayers potentially billions of dollars, according to a government watchdog's audit report released on Monday. The report from the Trouble Asset Relief Program's Special Inspector General Neil Barofsky said the New York Fed and the Federal Reserve Board refused "to use their considerable leverage" in negotiating haircuts on assets underlying AIG obligations. (Reporting by David Lawder; Editing by Andrew Hay) Keywords: FINANCIAL BAILOUT/AIG (david.lawder@thomsonreuters.com; +1 202 898 8395; Reuters Messaging: david.lawder.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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