Every now and then I read a blog and my blood boils. Names from the past come up, Michael Milken,noless. The junk bond king that went to prison. I have even seen Robert Vessco mentioned. I wonder WTF our congressman are doing. But then again they all have their hands out...running for something.
An ABC News investigation found that Cassano set up some dozens of separate companies, some off-shore, to handle the transactions, effectively keeping them off the books of AIG and out of sight of regulators in the U.S. and the United Kingdom.
"This is the other very important issue underneath the AIG scandal," said Blum. "All of these contracts were moved offshore for the express purpose of getting out from under regulation and tax evasion."
The Executive Who Brought Down AIG
Joseph Cassano started out at Drexel Burnham Lambert under Michael Milken, "the Junk Bond King." Drexel imploded in 1990 and Milken landed in prison.
AIG promptly hired a team of Drexel people to start a Financial Products unit, Cassano among them. Cassano became the head and began dealing in securities known as "credit default swaps" out of one office in Wilton, Conn., and another in England, dubbed "the London casino."
Yoo Hoo! Yes, Mr. Cop - Over THERE! (AIG)
After the huge losses became known, Cassano was fired from AIG in early 2008, but he still received a salary of $1 million a month until Congress intervened. AIG has received about a $180 billion in bailout funds so far.
Looks to me like there's been an awfull lot of HUSH money being paid out, Oh i mean taxpayer money or is that "bonuses".
I suspect everybodys sick of all this shit by now,But somebody like Eric Holder needs to do their job here. This scandal demands no less!