Joseph Cassano: The Man with the Trillion-Dollar Price on His Head

timesonline.co.uk ^ | 5/17/09 | Tim Rayment

[Freedom of Speech Wins]

They were frightened for a long time, then suddenly they were angry. For millions of Americans, anxiety about a jobless, debt-laden future turned to disbelief when it emerged that AIG, the company at the centre of the world’s financial crisis, was handing out £300m in bonuses. It was the superpower’s Sir Fred moment. Just as Britain reacted with fury to the disclosure that Sir Fred Goodwin’s pension pot had been doubled as his bank neared collapse, so the US was shocked. The death threats came soon after. “I want them dead!” said one of a stream of messages that caused AIG staff to travel in pairs, park in well-lit areas, and dial 911 if followed. “I want their spouses dead! I want their children dead! I want their children’s children dead! I want the earth upon which they have walked salted so nothing will ever grow again!”

[Freedom of Speech Wins]

Does AIG stand for Accounting Irregularities Group?

Asking for someone to make a link to the above url, thanks.

[6SJ7]

Similarly, in 2003 AIG was fined $10m for helping a telecoms company, Brightpoint, hide $11.9m in losses with a “non-traditional” insurance product that AIG offered for “income statement smoothing”. Brightpoint paid $15m in premiums, and AIG refunded $11.9m in fake insurance claims. The ruse allowed Brightpoint to spread its loss over three years, overstating its 1998 net income by 61%.

Sample AIG shenanigans.

[BuffaloJack]

> Does AIG stand for Accounting Irregularities Group?
more probably Arab Irregularities Group.

[dennisw]

These thieves would be wise not to come back to America to live. Maybe most of then aren’t even Americans at this AIG unit making them more prone to throw caution to the wind