Monday, April 5, 2010

No criminal charges seen in AIG's collapse

That's because the law only works in favor of those rich ballslobberers who screwed up everything in the first place and still get more money & chances to make everything worse (which they WILL do). So remember kids, if you ever come across one of these morally bereft scoundrels in your daily activities, it falls to you to put the unholy freaking fear of death in them before heading on your way. Don't hurt 'em (too much), but BONUSES will be paid for any confirmed  psychological damage you inflict to any AIG or Big Bank exec.

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No criminal charges seen in AIG's collapse: TV report

Fri Apr 2, 8:48 pm ET

NEW YORK (Reuters) – CBS News reported late Friday that Joseph Cassano, the former AIG executive closely linked with the giant insurer's near collapse in September 2008, will meet with U.S. Justice Department attorneys next week in what will probably end the two-year criminal investigation into the company -- with no criminal charges likely to be filed.
AIG received a $182 billion federal bailout during the height of Wall Street's liquidity crisis in September 2008, when regulators feared that AIG's massive losses from complex transactions could crash the global financial system.
"Sources tell CBS News that the criminal case against Cassano - once called 'the Man who Crashed the World' - has 'hit a brick wall,'" the network said in an exclusive story published on its website.
Federal investigators have found no evidence that Cassano lied to his bosses or shareholders about AIG's financial problems, sources told CBS News, according to the exclusive story posted online.
That means no one is likely to be held criminally liable for the company's downfall, CBS News reported.

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