As we’ve discussed before, AIG‘s little hidden hedge fund, Financial Products Group, not only took down the world’s largest insurance company, it had a huge hand in the global meltdown last fall. While some of AIG’s counter-parties came out pretty unscathed (Goldman Sachs), the rest of the financial complex surely did not. While there were…
Joseph Cassano
Joseph Cassano: Peekaboo!
Peekaboo! “It is hard for us, and without being flippant, to even see a scenario within any kind of realm of reason that would see us losing $1 in any of those transactions,” – Joseph Cassano, Head of AIG Financial Products, August 2007 This may be the most important and prescient quote you could…
