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. Full Story »
Posted by Derek Hawkins - via OneRiot, Tim O'Reilly, Slatest, New York Times (Most Emailed), Publish2 (Business), Columbia Journalism Review
this is a fascinating story of behind the scene of complex negotiation between two major players, leading up to the 'financial meltdown' which has affected this country and the world so profoundly. each of these two clearly were totally concerned with its own survival and not much else. one did survive and made record monies afterward, perhaps implied here, at the expense of the other's. i'd like to have read more analysis of the implications of how this all occurred.
for this reader who is limited in understanding financial negotiation,the story depicts one financial institution, goldman sachs, as the stereotypical corporate 'shark'--doing and saying whatever it takes to come out on top-- at the expense, even destruction of another. i don't know enough to know if that's a fair view or not