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April14, 2010
Phil Angel ides
Via Email & Mail
Joe Cassano
c/o James Walden, Esq.
Gibson, Dunn & Crutcher LLP
200 Park Avenue
New York, NY 10166
Chairmmr
Re:
Treatment of Non-Public Information
Hon. Bill Thomas
Vice Clraimran
Dear Mr. Walden:
Brooksley Born
On behalf of the Financial Crisis Inquiry Commission ("the Commission"), I write
to memorialize our understanding with respect to the treatment of non-public
information provided by Gibson, Dunn & Crutcher on behalf of Joe Cassano,
(collectively "you"), to the Commission and its staff.
Commissioner
Byron 5. Georgiou
Commissioner
Senator Bob Graham
Commissioner
When providing information to the Commission please indicate what is truly
"non-public" to allow the Commission to track the documents you have provided
appropriately. Please avoid categorizing everything as non-public, as to do so
will make the Commission's work more difficult and may lead to inadvertent
public disclosure outside ofthe terms ofthis letter.
Any non-public information that is obtained from you (please note that it is likely
that some of the information we receive from you we may also receive from other
Commissioner
sources) will be used only by employees and agents of the Commission who have
a need to know and use the information in the performance of their official work
Douglas Holtz-Eakin
duties in a manner consistent with its non-public status and applicable law. All
Commissioner
persons with whom non-public information is shared will be advised of and, as
condition of receiving non-public information, will agree to comply with the
Heather H. Murren, CFA understanding in this letter.
Keith Hennessey
Commissioner
John W. Thompson
Commissioner
Peter J. Wallison
Commissioner
In accordance with its statutory mandate and its duty to the American public, the
Commission, if it determines it is in the public interest, may release to the public
non-public information obtained from you as part of any interim or final report to
the President and Congress, or in connection with any public hearings, if the
Commission determines to do so by a majority vote, or by the decision of the
Chairman and Vice Chairman acting together on behalf of the Commission.
Prior to any release of non-public information under the above paragraph, the
Commission will give written notice to you, and allow you to consult with the
Commission before the Commission uses any of the your non-public information
in any interim or final report to the President and Congress, or in any public
hearing.
1717 Pennsylvania Avenue, NW, Suite 800 • Washington, DC 20006-4614
Thomas Greene
Executive Director
202.292.2799 • 202.632.1604 Fax
Nothing as described in this letter will prevent the Commission or its staff from complying with
a request or demand from a duly authorized Committee of the United States Congress with
authority to require and receive the non-public information, or a legally valid and enforceable
subpoena or order by a court of competent jurisdiction for the non-public information or
testimony related thereto.
Finally, all information obtained from you or relating to you will be transmitted to the National
Archives and Records Administration (NARA) following the completion ofthe Commission's
work. To the extent permitted by law, the Commission will request that NARA not release to the
public your non-public information for an appropriate length oftime, likely five years or more. If
you have a legal basis to believe that the Commission is not required by law to provide certain
information to NARA, please let us know.
If you have any questions or concerns, please do not hesitate to contact me at 202-292-1339 or
GCohen@fcic.gov.
Thank you very much for your continued cooperation.
Very truly yours,
Cc: Tom Greene
Executive Director
Chris Seefer
Assistant Director & Deputy General Counsel
@FedFRASER