podesta_email_03098.txt

podesta-emails 882 words email

P17 V16 V11 P19 D1

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will call you; I am in France. -----Original Message----- From: John Podesta [mailto:[email protected]] Sent: Sunday, August 03, 2008 11:55 PM To: Vachon, Michael Subject: Re: FFA basically ok. can we talk mondat aft? On 8/1/08, Vachon, Michael <[email protected]> wrote: > > John, > > I wanted to bring you up do date on some developments regarding FFA, > and to make sure that you are happy with the direction things are headed. > > I feel it is not a good use of resources to keep 500k in a legal > reserve fund at FFA. While I believe the chances of any litigation or > regulatory action are quite slim, nevertheless, I understand the > legitimate concerns of officers and directors with respect to not > being left uncovered in the event of the unforeseen. > > So I proposed to Rob, the remaining officer, that my boss indemnify > FFA and through FFA the funds officers and board for any legal costs up to the amt. > now reserved for that purpose. > > Rob was comfortable with this. I was able to speak with Stocks and > Anna and Amy, all of who were also comfortable with such an arrangement. > > I want to make check that you are also comfortable. > > The funds now on reserve at FFA would be transferred to AV as part of > our outstanding commitment to that organization. I had hoped to free > up the funds for distribution to other efforts, but George felt that > others had not met their full commitments as agreed and so did not > feel obliged. In the end, he'll have put 4.5 into FFA and about twice that into other efforts. > > Please let me know if you are okay with this. > > All best, > > Michael Delivered-To: [email protected] Received: by 10.100.139.5 with SMTP id m5cs122825and; Mon, 4 Aug 2008 06:07:12 -0700 (PDT) Received: by 10.214.81.21 with SMTP id e21mr8620310qab.61.1217855231872; Mon, 04 Aug 2008 06:07:11 -0700 (PDT) Return-Path: <[email protected]> Received: from NYC-SOR-MIME-03.SorosFunds.com (nyc.soros.com [208.197.121.6]) by mx.google.com with ESMTP id 6si7024201ywn.0.2008.08.04.06.07.11; Mon, 04 Aug 2008 06:07:11 -0700 (PDT) Received-SPF: pass (google.com: domain of [email protected] designates 208.197.121.6 as permitted sender) client-ip=208.197.121.6; Authentication-Results: mx.google.com; spf=pass (google.com: domain of [email protected] designates 208.197.121.6 as permitted sender) [email protected] Received: from nyc-sor-exch-07.SorosFunds.com (nyc-sor-exch-07.sorosfunds.com) by NYC-SOR-MIME-03.SorosFunds.com (Clearswift SMTPRS 5.2.9) with ESMTP id <[email protected]> for <[email protected]>; Mon, 4 Aug 2008 09:07:11 -0400 Received: from NYC-SOR-EXCH-06.SorosFunds.com ([10.7.30.104]) by nyc-sor-exch-07.SorosFunds.com with Microsoft SMTPSVC(6.0.3790.3959); Mon, 4 Aug 2008 09:07:11 -0400 Content-class: urn:content-classes:message MIME-Version: 1.0 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: quoted-printable X-MimeOLE: Produced By Microsoft Exchange V6.5 Subject: RE: FFA Date: Mon, 4 Aug 2008 09:07:10 -0400 Message-ID: <C8FA3B481ABC224FB1790510F35ED4C402800F29@NYC-SOR-EXCH-06.SorosFunds.com> In-Reply-To: <[email protected]> X-MS-Has-Attach: X-MS-TNEF-Correlator: Thread-Topic: FFA Thread-Index: Acj15dtFnWt9ZK1HT2qcLvEe1c3LMwATRh4w From: "Vachon, Michael" <[email protected]> To: "John Podesta" <[email protected]> Return-Path: [email protected] X-OriginalArrivalTime: 04 Aug 2008 13:07:11.0530 (UTC) FILETIME=[01E048A0:01C8F633] I will call you; I am in France.=20 -----Original Message----- From: John Podesta [mailto:[email protected]]=20 Sent: Sunday, August 03, 2008 11:55 PM To: Vachon, Michael Subject: Re: FFA basically ok. can we talk mondat aft? On 8/1/08, Vachon, Michael <[email protected]> wrote: > > John, > > I wanted to bring you up do date on some developments regarding FFA,=20 > and to make sure that you are happy with the direction things are headed. > > I feel it is not a good use of resources to keep 500k in a legal=20 > reserve fund at FFA. While I believe the chances of any litigation or=20 > regulatory action are quite slim, nevertheless, I understand the =20 > legitimate concerns of officers and directors with respect to not=20 > being left uncovered in the event of the unforeseen. > > So I proposed to Rob, the remaining officer, that my boss indemnify=20 > FFA and through FFA the funds officers and board for any legal costs up to the amt. > now reserved for that purpose. > > Rob was comfortable with this. I was able to speak with Stocks and=20 > Anna and Amy, all of who were also comfortable with such an arrangement. > > I want to make check that you are also comfortable. > > The funds now on reserve at FFA would be transferred to AV as part of=20 > our outstanding commitment to that organization. I had hoped to free=20 > up the funds for distribution to other efforts, but George felt that=20 > others had not met their full commitments as agreed and so did not=20 > feel obliged. In the end, he'll have put 4.5 into FFA and about twice that into other efforts. > > Please let me know if you are okay with this. > > All best, > > Michael