Goldman Defends Collateral Calls On AIG Swaps

Law360, New York (July 1, 2010, 12:07 PM EDT) -- Goldman Sachs Group Inc. executives on Thursday stood by their 2007 calls to American International Group Inc. to post billions in collateral as the housing market deteriorated, fighting back publicly against suggestions that they bled AIG by refusing to accept a lower value on the contested swaps.

Goldman Chief Financial Officer David Viniar and Managing Director David Lehman told members of the Financial Crisis Inquiry Commission that they believed their marks on AIG's credit default swaps to be fair and accurate throughout the companies' year-long dispute...
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