Will the Real Joseph Cassano Please Stand Up?
Rolling Stone reports that:
That guy — the Patient Zero of the global economic meltdown — was one Joseph Cassano, the head of a tiny, 400-person unit within the company called AIG Financial Products, or AIGFP. Cassano, a pudgy, balding Brooklyn College grad with beady eyes and way too much forehead, cut his teeth in the Eighties working for Mike Milken, the granddaddy of modern Wall Street debt alchemists. Milken, who pioneered the creative use of junk bonds, relied on messianic genius and a whole array of insider schemes to evade detection while wreaking financial disaster. Cassano, by contrast, was just a greedy little turd with a knack for selective accounting who ran his scam right out in the open, thanks to Washington’s deregulation of the Wall Street casino. “It’s all about the regulatory environment,” says a government source involved with the AIG bailout. “These guys look for holes in the system, for ways they can do trades without government interference. Whatever is unregulated, all the action is going to pile into that.”
Posted by Jupiter on Sat, 21 Mar 2009 18:34 | #
James
I went to Catholic school with a some of these cockroach Catholics who are wheeler dealers on Wall Street. The faggot bishops-who live in mansions,and prance around in shinny gold and geen outfits with a staff (only God kows what the the bishops do with these staffs) and have elaborate parties thrown for them by these cockroaches-are in bed with the evil corporate class.