20:19:52 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Globe says SEC releases financial crisis transcripts

2014-08-12 08:54 ET - In the News

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.

© 2024 Canjex Publishing Ltd. All rights reserved.