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.
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.
Goldman Sachs Group Inc. made Chief Executive Officer Lloyd Blankfein available for an interview with the Financial Crisis Inquiry Commission and has been more responsive to information requests from the panel, the FCIC’s leaders said.