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