represents that list without limiting scope. Staff also presented additional institutions . countrywide is already being examined. DHE what si being asked? PA: direction to – staff. DHE hugh liquidity run that killed the institution focus on the liquidity run – – rather than a full scrub of the institution. Keith first list of 3 lists?PA: first list is – recommended staff list to meet our statutory requirement. Second list is additional institutions to be added to first list. What is the output/product? WE: for a number of these it will be an investigative report. Fundamentally, within the report wee discuss the – causes of failure they were major investigation by PSI we the WaMu’s – – won’t reinvent wheel, but will get comfortable or additional info. KH/DHE: IndyMac, Countrywide, GMAC, National City Corp. etc. added list. Byron: treasury support column. Thanks we need to have more. Thinks we need a column on Federal Reserve. WE: GMAC doable. PA likes the primary list undisputable it was the biggest. Countrywide fits b/c big. If we – add PNC and IndyMac there has to be a reasonable rationale. – (Doug departed at 3:46pm; Byron departed at 3:38pm) How do we determine who would have failed? PA: put as part of the report. Not sure we produce a list. Just weave into the narrative of our report. Add the four additional. 10. Session Six: Other Items of Business (3:15-3:45pm) Day 2: July 29th Commissioners Present: John W. Thompson, Peter Wallison, Doug Holtz-Eakin, Keith Hennessey, Brooksley Born, Phil Angelides, Heather Murren, Bill Thomas, Byron Georgiou Commissioners Absent: Bob Graham Staff Present: Gary Cohen, Greg Feldberg, Gretchen Newsom, Scott Ganz, Courtney Mayo, Rob Bachmann, Shaista Ahmed, Ron Borzekowski 1. Session One: Draft Section 4 of the Report (9:00-10:30am) FORTHCOMING Background materials: Draft Section 4 with Commissioners’ comments
represents that list without limiting scope. Staff also presented additional institutions . countrywide is already being examined. DHE – what si being asked? PA: direction to staff. DHE – hugh liquidity run that killed the institution – focus on the liquidity run rather than a full scrub of the institution. Keith – first list of 3 lists?PA: first list is recommended staff list to meet our statutory requirement. Second list is additional institutions to be added to first list. What is the output/product? WE: for a number of these – it will be an investigative report. Fundamentally, within the report wee discuss the causes of WaMu’s failure – they were major investigation by PSI – we won’t reinvent the wheel, but will get comfortable or additional info. KH/DHE: IndyMac, Countrywide, GMAC, National City Corp. etc. added list. Byron: treasury support column. Thanks we need to have more. Thinks we need a column on Federal Reserve. WE: GMAC doable. PA likes the primary list – undisputable it was the biggest. Countrywide fits b/c big. If we add PNC and IndyMac – there has to be a reasonable rationale. (Doug departed at 3:46pm; Byron departed at 3:38pm) How do we determine who would have failed? PA: put as part of the report. Not sure we produce a list. Just weave into the narrative of our report. Add the four additional. 10. Session Six: Other Items of Business (3:15-3:45pm) Day 2: July 29th Commissioners Present: John W. Thompson, Peter Wallison, Doug Holtz-Eakin, Keith Hennessey, Brooksley Born, Phil Angelides, Heather Murren, Bill Thomas, Byron Georgiou Commissioners Absent: Bob Graham Staff Present: Gary Cohen, Greg Feldberg, Gretchen Newsom, Scott Ganz, Courtney Mayo, Rob Bachmann, Shaista Ahmed, Ron Borzekowski 1. Session One: Draft Section 4 of the Report (9:00-10:30am) FORTHCOMING Background materials: Draft Section 4 with Commissioners’ comments
GKN%20Notes%20-%20Agenda%20for%20FCIC%20Retreat%20-%207-28%20and%207-29_1.docx