Goldman (GS) Says Its Collateral Calls to AIG Were Justified

Goldman Sachs (GS) said that it believed its trades with the bailed out insurer AIG during the financial crisis were accurate and its collateral calls made to AIG were reflective of the conditions in a deteriorated market. “We made those collateral calls based on prices that reflected the deteriorating conditions in the market for the underlying collateral in Residential Mortgage Backed Securities and CDOs,” Goldman said in its report to the FCIC that was obtained by Reuters.