AIGFP - Goldman Sachs - Collateral Calls

  • 2007 0711 - AIG - AIG Transcript of phone call between Andrew Forster and Alan Frost - 8p
  • 2007 0730 - AIG - AIG Transcript of Phone Call between Andrew Forster and John Liebergall - 55p
  • 2007 0801 - email - AIG - Tom Athan to Andrew Forster - 2p
    • Tough conf call with Goldman. They are not budging and are acting irrational.
  • 2007 0816 - email - AIG - Forster to Frost - AIGFP - 2p (p1)
    • Andrew Forster to Alan Frost: I have heard several rumours now that gs is aggressively marking down asset types that they don't own so as to cause maximum pain to their competitors.
      • It may be rubbish but its the sort of thing gs would
        do.
  • 2007 0816 - email - AIG - Frost to Forster - AIGFP - 2p (p2)

    • Alan Frost to Andrew Forster: I wasn't really expecting to resolve anything, but starting the dialog was somewhat important.

      • Remember, I'm a marketing guy, so I have but no choice to manage the relationship.

  • 2007 1008 - email - AIG - Cassano to Forster, etc - AIGFP - 1p
  • 2007 1101 - email - AIG - Cassano to Habayeb - AIGFP - 3p
  • 2007 1123 - 2007 11 23 Margin call to AGIFP (sic) / AIGFP - 54p 
  • 2007 1127 - email - AIG - Cassano to Dooley, etc - 2p
  • 2007 1130 - email - AIG - Cassano to Sherwood - Goldman Sachs - 1p
    • He then said "ugh" and said "I guess we will be speaking more next week".
      • We hung up on good terms.
      • [Bonk: Would Sherwood agree that they "hung up on good terms?"]
  • 2007 1220 - Goldman Sachs Collateral Disagreement re Observations and Conclusions by Micottis - 44p
  • 2008 0116 - email - AIG Cassano to Goldman Sachs Sherwood and Viniar re : CDO Valuations - 7p
  • 2008 0307 - AIG Cassano email to Dooley and Bensinger - 2p
  • 2008-03-25 AIG Forster email to Neil Wright - FCIC - Dealer Poll - 2p
    • Dealer Poll
  • 2008 0424 - AIG Letter to Goldman Sachs Regarding Amended Lender Agreement - 2p
  • 2008 0506 - Goldman Sachs and AIG Credit Event Notice and Notice of Publicly Available Information - 6p
  • 2010 0701 - AIG/Goldman Sachs Collateral Call Timeline with Supporting Documents -  518p
  • 2010 0917 - FCIC Staff Memo from Chris Seefer and Carl McCarden to the Commissioners re Goldman Sachs Exposure to AIG - 8p
  • It seems clear to me that Goldman does not want to go to dealer polls.
    • My guess is, if we offer them an additional $1.250 billion they will balk but eventually accept.
    • If we offer them $1.5 they will whinge <sic> but go along.
    • They may hold out for a bit more but I doubt more than $1.750 billion.
  • ⇒  My recommendation is that it would serve us well to go back to them and offer to pledge an additional $1.25 billion very soon and request that they not make further calls for another 90 days from the end of Feb.

Please let me know how you wish to proceed.

Joe [Cassano]

2008 0307 - AIG Cassano email to Dooley and Bensinger - 2p