Ex-AIG's Cassano defends no-losses proclamation
The former head of the AIG unit that led to a $182bn bailout pledge from taxpayers stood by a 2007 proclamation that the insurer would not lose even a dollar on a portfolio of securities that included subprime mortgages.
Joseph Cassano, the ex-chief of AIG's Financial Products division, told a congressionally appointed commission on Wednesday that he truly believed what he told an earnings call with analysts and
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