Goldman (Sachs) rejected offers to settle AIG trades at discount

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Source: MarketWatch

NEW YORK (MarketWatch) -- Goldman Sachs Chief Financial officer David Viniar said Friday that the firm rejected overtures from American International Group to settle trades with the troubled insurer at a discount, instead holding the firm to the letter of its contracts. "We don't think we did anything wrong. We had commercial terms. It is our responsibility to our shareholders to make sure that we are protecting ourselves. That's why we enter into these contracts. That's why we have terms in the first place, to make sure that we are protected," Viniar said. When the CFO was asked if Goldman felt any guilt about its possible contribution to AIG's collapse, Viniar said, "All we did was call for what was due to us under the contracts. So you know, I don't think there's any guilt whatsoever."

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