Old Rich Guy Makes It Clear Where He Stands on Taxes

“I did not expect actual, economic losses on the portfolio. That said, I was truthful at all times about the unrealized accounting losses and did my very best to estimate them accurately, in consultation with others at AIG-FP, as well as with my supervisors, AIG’s senior accounting staff, and its internal and external auditors.”

~ Joe Cassano, in his prepared testimony before the Financial Crisis Inquiry Commission