Those pesky NY Fed-AIG scribbles

You can read a full account of the recently released AIG emails in this story at the New York Times, at the bottom of which is a link to the documents themselves, but what you see below is the key section regarding the New York Fed's actions in late-2008 after AIG officials wanted to disclose in regulatory filings that they had been paying counterparties such as Goldman Sachs and Merrill Lynch full value for CDOs (collateralized debt obligations).

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For the benefit of those who didn't click through to get the larger image, the comments on the stricken paragraph were, "Note that there should be no discussion or suggestion that AIG and the NY Fed are asking to structure anything else at this point."