THIS SEEMS LIKE NEWS: Geithner Backstairs Intrigue Awarded $13 Billion Directly to Goldman Sachs, Merrill Lynch (RIP), Société Générale and Deutsche Bank. “While negotiating how much loss large banks would have to take on credit default swaps with the bankrupt insurer AIG, the New York Fed, then under Geithner, rejected a 40 cents-on-the-dollar deal in the works and made taxpayers pay at least $13 billion to ensure the banks suffered no losses.”

UPDATE: Tom Maguire says there’s no story here.