Susie Gharib of Nightly Business Report on PBS interviewed Phil Angelides, chairman of the Financial Crisis Inquiry Commission. Here is a shocking statement that Angelides said about the former AIG CEO:
Angelides: "I do want to say that Mr. Cassano is part of a management team that did drive AIG over the cliff. I think some of the most disturbing testimony today came from Martin Solvan, the CEO who was paid $107 million over six years. He didn`t even know about these credit default swaps, that AIG had exposed itself to $78 billion. He didn`t even know until 2007. He didn`t even know that there were provisions that allowed Goldman Sachs to make collateral calls. It was an embarrassing performance."
Read more of Angelides' interview on NBR. Click here.
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