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Scribbled note ended probe of AIG’s Cassano
23 July 2010
A set of scribbled notes helped the head of AIG Financial Products unit avoid prosecution for deceiving investors on the state of AIG’s financial health in the run up to the $182bn US federal bailout in 2008, reports the Wall Street Journal.
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A set of scribbled notes helped the head of American International Group’s (AIG) Financial Products unit avoid prosecution for deceiving investors on the state of AIG’s financial health in the run up to the $182bn US federal bailout in 2008, reports the Wall Street Journal.
The Securities and Exchange Commission’s two-year long probe into Joseph Cassano’s unit has focused on a December 5 2007 conference call where Cassano told investors his large portfolio of credit derivatives would experience an estimated loss...
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