The Globe and Mail reports in its Tuesday edition former American International
Group executive Joseph Cassano
cited his Fifth Amendment right to avoid incriminating himself
more than 200 times while declining to answer questions
posed by the Securities and
Exchange Commission in 2009.
A Wall Street Journal item inside The Globe says Mr. Cassano's refusal to answer
questions is among the disclosures
included in 12 transcripts
released by the SEC in response
to public-records requests. The transcripts were from interviews conducted
under oath related to two high-profile probes from the
financial crisis. The other transcripts involve a separate SEC probe into
a subprime-mortgage bond deal
handled by Goldman Sachs. The documents provide a rare
peek into the legal wrangling
that took place behind the scenes.
There were some awkward, even comical,
exchanges. A manager who worked for Goldman vetting
loans in Florida struggled to obey
instructions not to interrupt the
SEC questioner. From her June, 2011, interview:
Q: [Your lawyer] just wants to let me finish [asking] the questions.
A: Oh, I'm sorry. Q: It's okay. A: Here, just slap me.
Q: We're not allowed to do that any more. A: Oh no? Okay.
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