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Exclusive: No Criminal Charges Likely in AIG Collapse
CBS News ^ | 02 April 2010 | Armen Keteyian

Posted on 04/19/2010 12:43:17 PM PDT by Lorianne

CBS NEWS has learned that former AIG executive Joseph Cassano - the prime focus of the investigation into its collapse - will meet with Department of Justice attorneys next week in what will likely be an end to the two year criminal investigation into the company.

Sources tell CBS News that the criminal case against Cassano - once called "the Man who Crashed the World" - has "hit a brick wall" - meaning that it is likely no one will be held criminally liable for the downfall of the company that triggered a $182 billion dollar federal bailout.

Sources tell CBS News federal investigators have been unable to uncover any evidence that Cassano lied to his bosses or shareholders about financial problems at AIG.

(Excerpt) Read more at cbsnews.com ...


TOPICS: Business/Economy; Crime/Corruption; Government
KEYWORDS: aig; cassano; fraud; josephcassano; wherethemoneyis; whitecollarcrime

1 posted on 04/19/2010 12:43:17 PM PDT by Lorianne
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To: Lorianne

They should be in jail for 25 years to life!


2 posted on 04/19/2010 12:44:23 PM PDT by gunsequalfreedom
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To: Lorianne

“Sources tell CBS News that the criminal case against Cassano - once called “the Man who Crashed the World” - has “hit a brick wall””

Who was the brick wall they ran against?


3 posted on 04/19/2010 12:45:03 PM PDT by Wisconsinlady (.)
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To: gunsequalfreedom
They should be in jail for 25 years to life!

Can you name the Statute he violated and present evidence admissible in Court that did so?

4 posted on 04/19/2010 12:45:45 PM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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Comment #5 Removed by Moderator

To: Lorianne

AIG needs to be put down, as long it should have been already.


6 posted on 04/19/2010 12:46:01 PM PDT by Paladin2
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Comment #7 Removed by Moderator

To: Lurker

AIG couldn’t meet it’s obligations. It should be in Chapter 9.


8 posted on 04/19/2010 12:47:07 PM PDT by Paladin2
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To: Lorianne

As in all cases like this, the coverup is worse than the crime.


9 posted on 04/19/2010 12:47:47 PM PDT by Proud_USA_Republican ("The problem with socialism is that you eventually run out of other people's money.")
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To: Lorianne

No this is a setup.....this crisis was setup by the White House to create the crisis of getting Wall Street regulation reform


10 posted on 04/19/2010 12:50:03 PM PDT by Bigtigermike (Loose lips sink ships, stay away RINO's)
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To: Lorianne

The reaction of the stock market to this news shows beyond a doubt that the market is enthralled by GS’ capture of the government and its regulatory agencies. Great stuff, eh?


11 posted on 04/19/2010 12:50:05 PM PDT by Attention Surplus Disorder (Voters who thought their ship came in with 0bama are on their own Titanic.)
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To: Lorianne

AIG was stolen by the Governor of New York and transformed into a company that swept sins under the rug. The sweepers will never be convicted of any thing.

The governor was done in by those from which he stole AIG


12 posted on 04/19/2010 12:50:19 PM PDT by bert (K.E. N.P. +12 . Ostracize Democrats. There can be no Democrat friends.)
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To: Paladin2
It should be in Chapter 9.

I think you mean Chapter 7.

13 posted on 04/19/2010 12:51:06 PM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: Lurker

Subtract 2. They should be already liquidated and parted out.


14 posted on 04/19/2010 12:54:53 PM PDT by Paladin2
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To: Lorianne

Well hell no they were trying to be sharia compliant!


15 posted on 04/19/2010 12:55:55 PM PDT by Tigen (I shall raise you one .)
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To: Paladin2

Delete Chapter and substitute Cell Block.


16 posted on 04/19/2010 12:58:11 PM PDT by nkycincinnatikid
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To: Lorianne
Too many democraps and their enablers in the lame stream media are in on the "scam of the century" for there to be any kind of accountability and punishment.

The extent of this crime and it's effects haven't been felt yet...but will linger for generations(green shoots my azz)

And to the RINO's who joined in on the candy...may you burn equally in hell also.

17 posted on 04/19/2010 12:59:56 PM PDT by RckyRaCoCo
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To: nkycincinnatikid

I was referring to the business units and not the people. The upper folks should certainly be studying old Elvis songs/movies.


18 posted on 04/19/2010 1:10:08 PM PDT by Paladin2
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To: Lorianne

Too big to jail.

There are thousands of white collar criminals associated with the housing bubble/collapse who should be doing 20 years behind bars, along with hundreds of fraudulent politicians.

It is sinful how a person smokes a marijuana joint and they are locked up for a year, but a white collar criminal defrauds thousands, causing hundreds of millions or even billions in fraud, and they get off scott free.

I really despise seeing these criminals operate with impunity and doing so with the help of our government.


19 posted on 04/19/2010 1:10:53 PM PDT by Freedom_Is_Not_Free (Bye bye Miss American Freedom. When did we vote for Communism?)
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To: Attention Surplus Disorder

I’m used to it. The market reaction in defiance of logic is becoming typical. The manipulation is self-evident.


20 posted on 04/19/2010 1:12:11 PM PDT by Freedom_Is_Not_Free (Bye bye Miss American Freedom. When did we vote for Communism?)
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To: Wisconsinlady
Who was the brick wall they ran against?

Doesn't say, but it likely involved a large donation.
21 posted on 04/19/2010 1:28:07 PM PDT by bamahead (Few men desire liberty; most men wish only for a just master. -- Sallust)
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To: Bigtigermike

Yes, and, to morph “Too Big to Fail” to “Too Big for Jail”.


22 posted on 04/19/2010 2:05:59 PM PDT by givemELL (Does Taiwan eet the Criteria to Qualify as an "Overseas Territory of the United States"? by Richar)
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To: Lurker
Can you name the Statute he violated and present evidence admissible in Court that did so?

If this guy is a scapegoat for the whole mess, then of course he should not be prosecuted. Thought about that after I posted.

But, certainly there was major corruption involved in the crash and people should pay. Certainly Moody's and the other ratings company (names slips me right now) should be held liable (civil and criminal).

If you still want me to name the statues violated, sorry, don't have the code in front of me. Call it crimes of corruption against the people. One day we will prosecute such crimes, not just the obvious ones like Madoff.

Look at the S&L bailout from years ago. If people had paid a criminal price then, we might have avoided the mess we are in now. The closest we came was Keating but the Congress members involved only lost their seats, no jail time and did not lose their pensions.

23 posted on 04/19/2010 3:08:45 PM PDT by gunsequalfreedom
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To: Bigtigermike
No this is a setup.....this crisis was setup by the White House to create the crisis of getting Wall Street regulation reform.


24 posted on 04/19/2010 3:10:28 PM PDT by gunsequalfreedom
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To: gunsequalfreedom
Call it crimes of corruption against the people. One day we will prosecute such crimes, not just the obvious ones like Madoff.

That's almost exactly what they called them in the Soviet Union. Don't get me wrong if actual nameable crimes were committed prosecute away.

25 posted on 04/19/2010 4:01:45 PM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: Lurker

Fraud? The fact that he sold investment insurance he couldn’t cover?


26 posted on 04/19/2010 4:41:49 PM PDT by MontaniSemperLiberi
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To: Lurker
I was just having a bit of fun with that. I know it sounded like commie land crime naming. Actually, it proabably would have been, "Crimes of the highest order perpetrated against the glorious state and its heroic people." Not sure what the criminal code number would be.

Easier to simply call it corruption; best to prosecute it to the fullest when found. If we don't, we become like that other country.

27 posted on 04/19/2010 5:42:02 PM PDT by gunsequalfreedom
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