Archive

Disgraced AIG Exec Returns to U.S.

Bold

Joseph Cassano headed Financial Products unit.

Roman Polanski may not be the most unpopular man called back from Europe this week: Joseph Cassano, the former head of AIG Financial Products, has returned with his family from London to their home in Westport Connecticut, according to Reuters. Cassano’s former unit was responsible for most of AIG’s massive losses, and Cassano himself was "as responsible for a series of disastrous trades as a person in a big company can be," Michael Lewis wrote in Vanity Fair. Some had thought that his unpopularity plus several investigations into AIG would keep him in London. "Despite what you have read, Joe owns no house in London. His house is here and it is where he lives. He is not ducking anyone," according to his lawyer. Cassano has not been working since September 2008, when his $1 million-a-month contract with AIG ended.

Read it at Reuters