Can you name the Statute he violated and present evidence admissible in Court that did so?
AIG couldn’t meet it’s obligations. It should be in Chapter 9.
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.
Fraud? The fact that he sold investment insurance he couldn’t cover?