Page 633 - untitled

604 Notes to Chapter 14

97. Minutes of the meeting of the AIG Audit Committee, November 6, 2007, p. 5.
98. Andrew Forster, email to Joseph Cassano, subject: GS Prices vs Others, November 18, 2007.
99. Goldman, submission to the FCIC, “Valuation & Pricing Related to Initial Collateral Calls on
Transactions with AIG,” pp. 2–3.
100. Based on staff analysis of data provided to the FCIC by the Depository Trust & Clearing Corpo-
ration and Markit. ABX includes all tranches of the ABX.HE 06-2. TABX is constructed based on the
reference obligations for the 06-2 and 07-1 BBB and BBB- tranches of the ABX.
101. Cassano, interview.
102. Andrew Forster, email to Alan Frost, August 16, 2007.
103. Tim Ryan, PricewaterhouseCooper, interview by FCIC, June 1, 2010.
104. SEC staff briefing of FCIC staff, June 4, 2010.
105. Joseph Cassano, email to Andrew Forster, Pierre Micottis, James Bridgwater, and Peter Robin-
son, subject: Fw: SS CDS Valuation, October 8, 2007.
106. PricewaterhouseCooper, minutes of meeting at AIGFP, October 11, 2007. See also PwC audit
team, memo re 3Q07 review of AIG’s super-senior CDS portfolio, November 7, 2007, pp. 230–31.
107. AIG, 3Q 2007 Earnings Call transcript, November 7, 2007, pp. 5, 17.
108. PwC audit team memo, p. 6.
109. Goldman Sachs International, to AIG Financial Products Corp., “Amended Side Letter Agree-
ment,” November 23, 2007.
110. Joe Cassano, email to Bill Dooley, November 27, 2007, attaching memo from Andrew Forster,
“Collateral Call Status.”
111. Andrew Forster, “Collateral Call Status,” memo prepared for Joe Cassano.
112. Joe Cassano, email to Bill Dooley, subject: Collateral Calls, November 27, 2007.
113. Joe Cassano, email to Bill Dooley, subject: GS call back, November 30, 2007.
114. Goldman Sachs International, Collateral Invoice to AIG Financial Products Corp., margin call,
November 23, 2007.
115. PwC audit team, memo, November 7, 2007, p. 5.
116. PricewaterhouseCooper, notes of a meeting to discuss super-senior valuations and collateral dis-
putes, November 29, 2007, p. 2, produced by PwC.
117. Andrew Forster, interview by FCIC, June 21, 2010.
118. Martin Sullivan, interview by FDIC, June 17, 2010.
119. PwC, notes of meeting of November 29, 2007, p. 2.
120. Ibid., p. 3.
121. Kevin McGinn, email to Paul Narayanan, November 20, 2007.
122. Sullivan, interview.
123. AIG Investor Conference Call, December 5, 2007, transcript, pp. 4–6, 25.
124. Joseph Cassano, email to Michael Sherwood and David Viniar, subject: CDO Valuations, January
16, 2008.
125. Andrew Davilman, interview by FCIC, June 18, 2010; David Lehman, interview by FCIC, June
23, 2010.
126. “AIG/Goldman Sachs Collateral Call Timeline,” available on FCIC website at http://fcic.gov/
hearings/pdfs/2010–0701-AIG-Goldman-supporting-docs.pdf.
127. PricewaterhouseCooper, memo to AIG workpaper files, February 24, 2008, pp. 2–3, 10.
128. PricewaterhouseCooper, notes on a February 6, 2008, meeting with AIG, February 13, 2008, p. 2.
129. Martin Sullivan, testimony before the FCIC, Hearing on the Role of Derivatives in the Financial
Crisis, day 1, session 2: American International Group, Inc. and Derivatives, June 30, 2010, transcript, p.
233.
130. PricewaterhouseCooper, notes on the AIG Audit Committee meeting, February 7, 2008, p. 2.
131. Joseph Cassano, testimony before the FCIC, Hearing on the Role of Derivatives in the Financial
Crisis. day 1, session 2: American International Group, Inc. and Derivatives, June 30, 2010, p. 233; Cas-
sano, interview.
132. Office of Thrift Supervision, letter to AIG General Counsel and Board, March 7, 2008.
133. William Dudley, interview by FCIC, October 15, 2010.