ABSTRACT
The times were great and the investor conference on 5 August 2007 went even smoother than before. ‘It is hard for us, without being flippant, to even see a scenario within any kind of realm of reason that would see us losing $1,’ said Joseph Cassano, AIG Financial Products Executive. AIG’s President and CEO Martin Sullivan added: ‘That’s why I am sleeping a little bit easier at night.’ He never suspected that the time remaining for his peaceful sleep was running low. Only a few months were left before the AIG disaster happened, which brought the largest US insurance company to its knees and cost the US taxpayers over $180 billion.
