"3 AIG unit executives focus of US probe" by Stephen Bernard, Associated Press | April 29, 2009
NEW YORK - Federal investigators are focusing their attention on three employees at American International Group's financial products unit amid a probe into derivatives contracts that nearly destroyed the insurance giant, according to a report in The Wall Street Journal....
The investigation is focused on possible ways the three executives might have misled AIG's auditors and investors about the value of derivatives products AIG sold, according to the report, which cited anonymous sources....
--more--"FLASHBACK:
".... AIG is not “too big to fail.” It is simply too important a repository of dirty money and dirty secrets to be exposed. Barack Obama and his administration know this.
AIG, one of the largest pools of investment capital on earth, is also one of the largest launderers of drug money and illegal funds for covert operations. Mike Ruppert’s investigation “AIG” (From The Wilderness, August 14, 2001) exhaustively deconstructed Greenberg and AIG, exposing continuing connections to covert operations, narco trafficking, money laundering, and AIG’s central role in the Wall Street/Washington power nexus.
AIG’s involvement in US covert operations stretches back to World War II, in its roots as C.V. Starr, the intelligence-related proprietary founded by OSS agent Cornelius Vander Starr. The Starr proprietary was connected to CIA/OSS figures Paul Helliwell and Tommy Corcoran. The notorious CIA fronts connected to C.V. Starr, including Civil Air Transport, Sea Supply, and Air America/Pacific Corp were exposed by Peter Dale Scott in his book Drugs, Oil, and War: The United States in Afghanistan, Colombia, and Indochina.
It is also a huge financial “pass-through,” whose counter-parties include Goldman Sachs and (not surprisingly) the same major financial institutions that are the top recipients of the US government’s TARP bailout.
It is no surprise that Barack Obama is the top recipient of AIG funds. AIG’s money also lines the pockets of other members of the Obama administration, and prominent members of Congress, including Senator Christopher Dodd, who has been accused of a sweetheart deal aiding AIG.
The man in the shadows
AIG’s former CEO, Maurice “Hank” Greenberg, remains a pivotal figure connected to the institution, which he has fought against, sued, and publicly lambasts the officials in charge of his former company, his “baby.”
Greenberg is a member of world planning groups (Council on Foreign Relations, the Bilderberg Group, the Trilateral Commission) and the Heritage Foundation, a former candidate for CIA director (1995). He is longtime friend of the Bush family. David Boies (of Bush v. Gore fame) is his attorney. So well-connected is Greenberg that he was considered as a nominee for CIA director by Bill Clinton in 1995. The profile of Greenberg in the June 20, 2005, edition of Time magazine, “Down But Not Out”, details Greenberg’s career as a government asset, foreign policy guru, and strongman.
In 2005, while still heading AIG, Greenberg was the target of multiple investigations into the orchestration of sham transactions, the inflation of reserves, illegal stock trades, deception, and book-cooking in an investigation by Eliot Spitzer, who declared that AIG was “a black box run with an iron fist by a CEO who did not tell the public the truth.” Spitzer’s probes of AIG, and other Wall Street malfeasance, was subsequently and conveniently stopped in its tracks, when Spitzer became entangled in a prostitution scandal.
--MORE--"
"Spitzer was likely a target of a White House and Wall Street operation to silence one of its most dangerous and vocal critics of their handling of the current financial market crisis."
I won't be holding my breath on any investigation.
