GRETCHEN MORGENSON and LOUISE STORY write February 7 in the New York Times:

Billions of dollars were at stake when 21 executives of Goldman Sachs and the American International Group convened a conference call on Jan. 28, 2008, to try to resolve a rancorous dispute that had been escalating for months.

A.I.G. executives wanted some of its money back, insisting that Goldman — like a homeowner overestimating the damages in a storm to get a bigger insurance payment — had inflated the potential losses. Goldman countered that it was owed even more, while also resisting consulting with third parties to help estimate a value for the securities.

To read more, click this link:

http://www.nytimes.com/2010/02/07/business/07goldman.html?emc=eta1