U.S. drops criminal probe of AIG executives

[Rastus]

I am not surprised.  The nation is nearly brought down and nobody knew anything, nobody approved a shaky loan, nobody did anything wrong and the perps got rich on our backs.  And, if anyone defends them by saying their actions were legal...there are professional ethics that used to be applied (and by the law of the land, as well) to prevent greed and stupidity from reaching these levels.  I can blame the Bush Administration for letting this silliness go on and not confronting Congress on their push to loosen credit to buy votes, but we see that the BHO Administration steps up to protect the rich....how can that be?      

For people who voted for BHO and really thought this sort of thing was going to end...if you haven't learned to not check your brain whenever any politician says something, you might do us a favor by staying home the next time there is a vote.  I don't care if MTV says whatever you do, make certain you participate in the process and go vote....voting without thinking is irresponsible and destructive....who would listen to a kid's show anyway?

U.S. drops criminal probe of AIG executives

http://www.reuters.com/article/idUSTRE64L09W20100523

(Reuters) - The U.S. Justice Department has dropped a probe of American International Group Inc executives involving the credit default swaps that sent the insurer to the brink of bankruptcy and forced a huge taxpayer bailout, lawyers for the executives said on Saturday.

The investigation had centered on AIG Financial Products, which nearly brought down the giant insurer after writing tens of billions of dollars on insurance-like contracts on complex securities backed by mortgages that turned out to be toxic.

The U.S. government stepped in with a $182 billion bailout to avert a bankruptcy filing by AIG.

The criminal probe had focused on whether Joseph Cassano, who ran the financial products unit, and Andrew Forster, his deputy, knowingly misled investors about the company's accounting losses on its credit default swaps portfolio.

"Although a 2-year, intense investigation is tough for anyone, the results are wholly appropriate in light of our client's factual innocence," F. Joseph Warin and Jim Walden, Cassano's lawyers, said in a statement.

Forster's lawyers also confirmed the probe had been dropped.

"We were very pleased but not surprised to hear from the DOJ late yesterday that they were dropping the criminal investigation of our client," David Brodsky, one of Forster's lawyers, said in a statement. "In the end, the facts were stronger than the emotions surrounding AIG's problems."

The Department of Justice declined to comment. <snip>

[JC5123]

Forster's lawyers also confirmed the probe had been dropped.

"We were very pleased but not surprised to hear from the DOJ late yesterday that they were dropping the criminal investigation of our client," David Brodsky, one of Forster's lawyers, said in a statement. "In the end, the facts were stronger than the emotions surrounding AIG's problems."

The Department of Justice declined to comment. <snip>

Anyone else wonder who reminded Obummer how big the campaign check was from AIG?

[Woody]

Birds of a feather flock together, and criminals help criminals. He's in their pocket.