Banking Reporter, New York
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Jul 1, 2010

Goldman, AIG trade barbs over collateral calls

WASHINGTON (Reuters) – Goldman Sachs(GS.N: Quote, Profile, Research) demanded billions of dollars in collateral from AIG to protect its customers, the Wall Street bank said on Thursday, defending itself against accusations that it contributed to the insurer’s woes while padding its own profits.

But an American International Group(AIG.N: Quote, Profile, Research) official questioned Goldman’s lack of flexibility in the 2007-2008 dispute over credit default insurance products linked to baskets of loans that included subprime mortgages.

Jun 30, 2010

Goldman’s Cohn spending more time with clients

WASHINGTON (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) President Gary Cohn said he’s working overtime these days to stay in touch with clients as the firm weathers its battle with regulators.

Cohn told Reuters he planned to head to Europe to meet clients after spending Wednesday in Washington D.C. squaring off with a congressionally-appointed panel that is investigating the origins of the financial crisis.

Jun 30, 2010

Ex-AIG’s Cassano says bailout was too generous

WASHINGTON (Reuters) – The former head of the AIG unit that nearly crippled the insurer said the 2008 taxpayer bailout of up to $182 billion was too generous to customers like Goldman Sachs.

Goldman Sachs, in turn, insisted it simply followed its agreement with American International Group and underlying accounting rules in demanding collateral under the credit default insurance products it bought from AIG.

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    • About Steve

      "Steve Eder, based in New York, covers investment banks for Reuters. He came to Reuters in May, 2009, after working as an investigative reporter for the Toledo Blade newspaper in Ohio. Eder has written about plant closings, the health insurance industry, poverty, and public corruption, helping to expose Ohio's 'Coingate' scandal. He also completed assignments to India and South Korea. Since joining Reuters, Eder has written about the aftermath of the financial crisis, Goldman Sachs and the debate over Wall Street bonuses."
      Joined Reuters:
      May, 2009
      Loeb Award, 2006
      Finalist, Pulitzer Prize for Public Service, 2006
      National Headliner Award, 2006
      Finalist, IRE Award, 2006 and 2008
      Best Ohio Reporter, Cleveland Press Club, 2009
      Finalist, Livingston Award, 2009 and 2010
      Reuters Company News Story of the Year, 2009
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