Joseph Cassano, the former AIG executive whose financial products division helped trigger a $180bn government bail-out, broke his silence yesterday with a staunch defence of his business's actions leading up to the financial crisis.
AIG Financial Products, which Mr Cassano ran from 2002 until early 2008, housed the portfolio of credit-default swaps and other complex derivatives that became a chief culprit of the company's near-collapse.
The precise causes of AIG's downfall, and the insurer's relationships with counterparties such as Goldman Sachs, remain a focal point for regulators and lawmakers investigating the crisis.
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