The Justice Department’s $13 billion mortgage securities settlement with JPMorgan Chase & Co. is a record and also a rarity -- Attorney General Eric Holder’s first big win against a bank at the heart of 2008’s financial crisis.
New York Attorney General Andrew Cuomo reopened his probe of former American International Group Inc. executive Joseph Cassano after federal authorities closed theirs, according to a person familiar with the matter.
Joseph Cassano , whose bad bets on subprime mortgages pushed American International Group Inc. to the brink of collapse in 2008, will appear before the Financial Crisis Inquiry Commission next week to give his first testimony since leaving the insurer more than two years ago.
Federal prosecutors won’t bring charges against former American International Group Inc. executive Joseph Cassano related to the insurer’s collapse, according to a person familiar with the investigation.
Effective or not, bailouts somehow seem unjust. Why use taxpayer money to save the companies that actually caused the meltdown, the banks that made the reckless loans, and insurance companies that wrote too many credit- default swaps? More broadly, why save the state and local governments that offered overly generous pensions? Or auto companies too fat and lazy to match foreign competitors? They deserve to suffer the consequences of their behavior.
G. Robert Blakey, the law professor who helped draft the U.S. wiretap statute, may submit a brief supporting imprisoned hedge fund manager Raj Rajaratnam’s effort to overturn his conviction for insider trading, a U.S. appeals court ruled.
Federal prosecutors don’t plan to bring charges against former American International Group Inc. executive Joseph Cassano after a two-year probe of the insurer’s collapse, according to a person familiar with the investigation.
Twenty-five Nuveen Investments Inc. funds sued American International Group Inc., claiming the company and executives committed securities fraud leading to the U.S. financial crisis that intensified in 2008.