Fox Business Network is now poring over more than 800 pages of documents pertaining to Federal Reserve Board and Treasury Department discussions regarding the government's interventions in American International Group Inc. (NYSE:AIG). The documents were obtained under a Freedom of Information Act request that Fox said was honored only after the network filed a lawsuit seeking a court order for the documents.
In their first report based on the documents Friday, Fox reports that the government considered allowing AIG to file for bankruptcy in January, after the company had already received more than $85 billion in government assistance. Instead of letting the company go into bankruptcy, the government provided it another $30 billion in assistance on March 2. The report by senior Washington correspondent Peter Barnes presents the "explosive" information in the inimitable Fox style. - Bill McConnell
See Fox Business report
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