As investigations into AIG’s involvement in the financial crisis wind down, investigations into Lehman Brothers are ramping up.
According to sources familiar with the federal investigation into the former head of financial products at AIG who spoke to CBS News, the feds haven’t been able to find any evidence that Cassano lied to his bosses or shareholders about financial problems at AIG.
Apparently the investigations “hit a brick wall” and it is likely no one will be held criminally liable for the downfall of the company.
Maybe that’s why the SEC is just now moving onto investigating Lehman Bros? Sources tell Fox Business News that the SEC is beefing up their probe of the former executives associated with Lehman’s bankruptcy.
It’s probably just a funny coincidence, but it’s worth pointing out because clearly, as we’ve seen from numerous protests and accusations and bank hate, someone needs to be officially blamed for the financial crisis.
The charges against Lehman probably have more to do with a bankruptcy examiner’s report on Lehman that recently cited gross negligence on the part of some people at the firm.
Anyway, now the focus is moving away from AIG and onto Lehman.
CBS’s sources expect Cassano to meet with Department of Justice attorneys this week for “what will likely be an end to the two year criminal investigation into the company.”
In other words, the 16 people to blame for the AIG fiasco are now off the hook.
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