RTFA: http://www.reuters.com/article/BANKSL/idUSN0725372…

Senators were outraged by the lack of details about where the bailout money has gone.

“That we find ourselves in this situation at all is … quite frankly, sickening,” said Senator Christopher Dodd, the Democrat who chairs the committee. “The lack of transparency and accountability in this process has been rather stunning.”

Eric Dinallo, superintendent of New York State’s Insurance Department, railed on Friday against AIG’s failed business model, likening its insuring credit-default swaps as gambling with somebody else’s money.

“It’s like taking insurance on your neighbor’s house and even maybe contributing to blowing it up,” he said at a panel sponsored by New York University’s Stern School of Business.

U.S. lawmakers have said they are running out of patience with regulators’ refusal to identify AIG’s counterparties.

On Thursday, Richard Shelby, the top Republican on the banking committee, said: “The Fed and Treasury can be secretive for a while but not forever.”

Agreed. What happened to Obama’s transparent government pledge and what is the point of hiding this information?