Ex-AIG exec under probe by U.S. prosecutors: report

[Eugene]

Source: Reuters

Ex-AIG exec under probe by U.S. prosecutors: report
Wed Nov 26, 2008 1:35am EST

NEW YORK (Reuters) - Former American International Group
Inc executive Joseph Cassano is under investigation by U.S.
prosecutors for possibly misleading auditors and investors
about subprime mortgage-related losses, according to a
Bloomberg report citing people familiar with the probe.

The report said investigators are asking auditors at
PricewaterhouseCoopers about memos they wrote last fall
on how Cassano and other AIG executives valued contracts
protecting $62 billion in mortgage-backed securities.

The U.S. government is also investigating AIG's reliance
on valuations that have been questioned by auditors and
banks, according to the report.

-snip-

Read more: http://www.reuters.com/article/topNews/idUSTRE4AP0Z620081126

[acmavm]

1. Golly, does someone think there might have been some hanky panky

involved here? Sheesh, now why would anyone suspect our upper class 'betters' of something like that?

:sarcasm:

[bluesmail]

2. and by Hanky Paulson.

[sarcasmo]

5. Do the Hanky Paulsson. Put your right foot in, get a billion dollars and shake it all about.

Put your left foot in and tell your friend you are to big to fail and shake it all about. Put your backside in and tell them your with the UWA and get kicked out.

[madmom]

3. Shouldn't this have been done before handing them ...oh never mind!

[Tandalayo_Scheisskopf]

4. Can we hand his probing over...

To some of them grey aliens? Just a thought...