The Financial Crisis Inquiry Commission wrapped up their first day of testimony on the “The Role of Derivatives in the Financial Crisis.” Today’s hearing had testimony with current and former executives from Goldman Sachs and AIG including the first-ever public testimony by Joseph Cassano, who headed AIG’s financial products division from 2002 to 2008.
The purpose of the two-day hearings is to look into how derivatives contributed to the financial crisis. Derivatives based on mortgages bonds have been blamed in part for creating the financial crisis.
Continue reading AIG, Goldman Sachs Execs Questioned On Contribution To Financial Crisis
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