Sense on Cents

Joseph Cassano, former head of AIG-FP

What is wrong with this picture?

1. The American taxpayer injects tens of billions of dollars into a failing AIG.

2. The debate runs hot as to how the Feds executed a backdoor bailout of AIG’s creditors, both Wall Street and international banks.

3. The taxpayer remains on the hook, the banks get their dough, and AIG attempts to resurrect itself.

I will tell you what is wrong with the picture. We are now going on two years and nobody has truly been held accountable.

Martin Sullivan and Bob Willumstad, AIG executives, got pushed out the door. Big deal. Don’t tell me that an institution such as AIG can literally bring our system to the brink of total catastrophe without heads rolling and indictments being handed up.

The massive losses within AIG were housed in AIG-FP (AIG Financial Products). Who ran this division? Joe Cassano. Where is he? What is he doing? Did he sign off and approve transactions that risked our entire national economic interest? Geithner and others are saying that AIG did exactly that.

If so, then where is Joe Cassano? America needs to hear from him. Why haven’t we? What does Joe know that regulators are afraid might get out? Cassano reportedly was paid hundreds of millions of dollars at AIG and contributed to the campaigns of Chris Dodd and Barack Obama. Hmmmm.

Is somebody protecting him?

Something smells and the American taxpayer is paying for it.

Anybody seen Joe lately? Think we might be able to get him on Sense on Cents with LD this coming Sunday??

What a joke.

Whatever happened to people with real integrity never taking no for an answer.

LD

This entry was posted on Wednesday, January 27th, 2010 at 3:41 PM and is filed under AIG, General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.