Friday news dump item: CBS Exclusive: No Criminal Charges Likely in AIG Collapse

[Subdivisions]

CBS NEWS has learned that former AIG executive Joseph Cassano - the prime focus of the investigation into its collapse - will meet with Department of Justice attorneys next week in what will likely be an end to the two year criminal investigation into the company.

Sources tell CBS News that the criminal case against Cassano - once called "the Man who Crashed the World" - has "hit a brick wall" - meaning that it is likely no one will be held criminally liable for the downfall of the company that triggered a $182 billion dollar federal bailout.

...snip...

http://www.cbsnews.com/8301-31727_162-20001705-10391695.html?tag=stack

[Rex]

1. Corporations pwne America.

If you are rich enough you too can avoid any responsibility in fucking over the working class! Millionares need not apply.

[truedelphi]

3. Just don't be late with your credit card payment or all hell will break loose.

[upi402]

2. No kiss, no KY

and the rapist released from custody.

k/r

[Earth Bound Misfit]

4. Too big to JAIL. n/t

[NecklyTyler]

5. AIG operated with the full cooperation of the Bush Administration

Since Eric Holder refuses to procicute any criminal activity of the previous administration, AIG gets a pass. AIG and its Chief Executive Officers will never come to trial for what they did, no one in the Bush Administration will be held accountable, and the American people will pay the bill.

[KharmaTrain]

6. Let The Civil Suits Roll...

Worse than jailtime for these crooks is losing all their money, and that may be the end result. I've read of a mountain of civil suits that have been filed by investors who felt the victim of fraud in these schemes and are moving forwards in the courts. Sadly under the "deregulation" of the rushpublicans anything was fair game...much of this fraud didn't violate laws as they were swept away. However, these banks didn't do their "fiduciary duty" of protecting the investments of their depositors and stockholders...and this is where their ultimate "justice" could take place.