THEN: Cassano led a group at AIG that sold credit-default swaps—insurance—for mortgage-backed bonds held by Goldman Sachs and others. When housing crashed, so did the bonds’ value, requiring a $182.3 billion federal bailout.
NOW: Treasury sold the last of the AIG stock it held as collateral in December. The government realized a net return of $22.7 billion.
Next Kathleen Corbet