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Should Davis Polk Join Tim Geithner In Providing AIG Testimony Before Congress?
Is it time to summon Davis Polk And Wardwell to provide testimony before Congress? New disclosure from Huffington Post seems to indicate so:
The Fed has claimed that it had little control and that AIG made the decision to hide relevant details, but reports have emerged in recent weeks casting that claim in doubt.
And a newly disclosed email increases the doubt substantially. All
"significant communications," a senior New York Fed official writes in
the email, "should be run by DPW first." DPW is Davis Polk &
Wardwell, the New York Fed's law firm.
The New York Fed's counsel, Richard Charlton, laid out the situation
in an email to DPW's Marshall Huebner on September 19, 2008:
"Marshall - Sarah Dahlgren" -- New York Fed's AIG point person --
"and I called AIG's GC this morning at 7:15 to alert her to the
problems. She or their lawyers will be in contact with you asap. We
also told her that future SEC filings, press releases, and other
significant communications should be run by DPW first."
"Clearly, the New York Fed weren't just casual observers here," said
Rep. Darrell Issa (R-Calif.) "They were calling the shots in a
command-and-control type of way and everything that happened, including
the efforts to stifle public disclosure, was done so at their behest."
We have long claimed that in order to glean a full perspective on the events involving AIG and the Fed, it is critical to provide DPW with the opportunity to present their views on the matter. The last thing we need, is for AIG, or the Fed for that matter, to pull the Bank Of America defense, where everything ends up being the lawyers' fault.
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Who stole the cookie from the cookie jar? Timmy is gonna get it.
Not the whole firm, Tyler. Just someone from the Paris office to explain how the Societe Generale's counsel completely hyp-mo-tized them with the legal brilliance of their claim that taking less than par would have led to jail for SG's directors. And please have a congressman ask the Paris office partner where they keep their copy of the French banking code.
Not with the current crop of Republican and Democratic Senators.
We know whose side they're on.
Little Eddie Haskell or if you prefer Timmy, just rubs everyone the wrong way. Sooner or later he will be shoved out of the coliseum tunnel to meet the lion.
Perfect name for him Booboo. He not only looks like him but also has that same expression on his face.
If they get "invited" to testify, is that considered billable hours?
Only if you question them at the same time, play good cop bad cop and in seperate rooms. I don't think strong arming either of these players would be worthwhile...as they may enjoy it too much.
http://www.politico.com/news/stories/0110/31995.html