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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: JohnM who wrote (105279)	3/1/2009 10:24:34 PM
From: Sam	Read Replies (1) \| Respond to of 542967

My guess is if you had talked to any of these folk prior to the middle of 07, they would have had no sense of the serious risk involved. They knew the risks. They just didn't want to face them. And the people who wanted to face them were regarded as "pollut[ing] the process." Cassano is at the center of it all. A Drexel alum. Democrats all, lol. Mr. St. Denis wrote he wasn't personally involved in the valuation of the swaps at the unit. In the last week of September 2007, Mr. St. Denis wrote, the unit's head, Joseph Cassano, said he had "deliberately excluded" Mr. St. Denis "because I was concerned that you would pollute the process." In the letter, Mr. St. Denis said he resigned on Oct. 1, 2007, and that later that month, AIG's chief auditor, Michael Roemer, asked him why and said he would report those reasons to AIG's audit committee. Mr. St. Denis wrote that he told Mr. Roemer about Mr. Cassano's comment. That would indicate that a key AIG executive last fall was aware of Mr. St. Denis's concerns. Message 25455955