AIG Details May Remain Sealed Until 2018

It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group (AIG) because of an action taken last year by the Securities and Exchange Commission, Reuters reported.

Source: Source: NY Times | Published on January 12, 2010

In May, the SEC approved a request by AIG to keep secret an exhibit to a year-old regulatory filing that includes some of the details on the most controversial aspect of the AIG bailout: the funneling of tens of billions of dollars to big banks like Societe Generale, Goldman Sachs, Deutsche Bank and Merrill Lynch.

The SEC's Division of Corporation Finance, in granting AIG's request for confidential treatment, said the “excluded information” will not be made public until Nov. 25, 2018, according to a copy of the agency’s May 22 order, the news service reported.