US politicians to question boss of failed AIG division
AIG's Financial Products former boss Joseph Cassano, who oversaw the insurer's failed subprime mortgage derivatives, is to be questioned by the Financial Crisis Inquiry Commission on Wednesday, the Telegraph reports.
"Perhaps he thinks now is the time that he would be able to speak more freely," Ernest Patrikis, a former AIG general counsel, told Bloomberg. "It's not going to be a pleasant thing. He owes an awful lot to the people of AIG who were harmed financially."
Goldman Sachs president Gary Cohn, chief financial officer David Viniar and former AIG chief executive Martin Sullivan will also appear at the inquiry, which is looking at the role of derivatives in the financial crisis.
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