Lawsuit: $43 mil to AIG unit CEO for trashing company and economy

This shareholder derivative action filed in Delaware against AIG FP, their officers and Joseph Cassano, the CEO who got the sweet retirement package. This was after he had driven this small AIG financial products subsidiary to a $33 billion loss which had the potential of crashing the global economy leading the U.S. federal government to take over all of AIG and provide them funds to the tune of more than $100 billion and counting.  Is this the biggest scam of this entire financial meltdown?  An AIG unit goes rogue, avoids regulation, trashes the entire company and potentially the economy and the CEO gets $43 million and the company as whole get hundreds of billions while the rest of us lose trillions in our 401-Ks and possibly our jobs?

Complaint courtesy Courthousenews

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2 Responses to “Lawsuit: $43 mil to AIG unit CEO for trashing company and economy”

  1. Pedro Grande Says:

    does anyone know where he lives?

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