From what I can tell the Cassano situation is much more serious than what Spitzer came up with to try to “get” Hank Greenberg. And if Cassano really did sit on an internal auditor, that is going to be compelling for a jury, even setting aside the technical fraudulent disclosure analysis which seems strong to me.
As I mentioned in a previous post if he is guilty he should go to jail and provide restitution.
He is not even accused of anything (yet). His only function right now is to deflect attention from politicians. Why are we helping them?