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Corporatism and Fascism
Corporatism and Fascism
By David Swanson
David Segal is a candidate for Congress from Providence, R.I. who is not only running as a real person, but running against permitting corporations to claim the rights of persons. Recently the Providence Journal reported:
"Segal said he just introduced a resolution calling for a federal Constitutional Convention to address the U.S. Supreme Court's Citizens United decision, which held that the government may not ban political spending by corporations in candidate elections. 'Our democracy belongs to the people, not to corporate interests,' he said."
Many news reports about the Gulf oil catastrophe refer to it as a "spill." Wrong. A spill is a minor "oops" — one accidentally spills milks, for example, and from childhood, we're taught the old aphorism: "Don't cry over spilt milk." What's in the Gulf isn't milk and it wasn't spilt. The explosion of BP's Deepwater Horizon well was the inevitable result of deliberate decisions made by avaricious corporate executives, laissez faire politicians and obsequious regulators.
As the ruinous gulf oil blowout spreads onto land, over wildlife, across the ocean floor and into people's lives, it raises a fundamental question for all of us Americans: Who the hell's in charge here? What we're witnessing is not merely a human and environmental horror, but also an appalling deterioration in our nation's governance. Just as we saw in Wall Street's devastating economic disaster and in Massey Energy's murderous explosion inside its Upper Big Branch coal mine, the nastiness in the gulf is baring an ugly truth that We the People must finally face: We are living under de facto corporate rule that has rendered our government impotent.
Thirty years of laissez-faire, ideological nonsense (pushed upon us with a vengeance in the past decade) has transformed government into a subsidiary of corporate power. Wall Street, Massey, BP and its partners — all were allowed to become their own "regulators" and officially encouraged to put their short-term profit interests over the public interest.
Let's not forget that on April 2, barely two weeks before Deepwater Horizon blew and 11 people perished on the spot, the public's No. 1 official, Barack Obama, trumpeted his support for more deepwater oil drilling, blithely regurgitating Big Oil's big lie: "Oil rigs today generally don't cause spills." He and his advisors had not bothered to check the truth of that — they simply took the industry's word. That's not governing, it's aiding and abetting profiteers, and it's a pathetic performance. Read more.
BP Buys 'Oil' Search Terms to Redirect Users to Official Company Website
BP Spokesman Acknowledges Purchase 'To Make It Easier for People to Find Out More About Our Efforts in the Gulf' and Other Ways to Help
By Emily Friedman | ABC News
Be careful where you click, especially if you're looking for news on the BP oil spill.
BP, the very company responsible for the oil spill that is already the worst in U.S. history, has purchased several phrases on search engines such as Google and Yahoo so that the first result that shows up directs information seekers to the company's official website.
A simple Google search of "oil spill" turns up several thousand news results, but the first link, highlighted at the very top of the page, is from BP. "Learn more about how BP is helping," the link's tagline reads.
A spokesman for the company confirmed to ABC News that it had, in fact, bought these search terms to make information on the spill more accessible to the public.
"We have bought search terms on search engines like Google to make it easier for people to find out more about our efforts in the Gulf and make it easier for people to find key links to information on filing claims, reporting oil on the beach and signing up to volunteer," BP spokesman Toby Odone told ABC News. Read more.
U.S. 'secret war' expands globally as Special Operations forces take larger role
By Karen DeYoung and Greg Jaffe | Washington Post
Beneath its commitment to soft-spoken diplomacy and beyond the combat zones of Afghanistan and Iraq, the Obama administration has significantly expanded a largely secret U.S. war against al-Qaeda and other radical groups, according to senior military and administration officials.
Special Operations forces have grown both in number and budget, and are deployed in 75 countries, compared with about 60 at the beginning of last year. In addition to units that have spent years in the Philippines and Colombia, teams are operating in Yemen and elsewhere in the Middle East, Africa and Central Asia.
Commanders are developing plans for increasing the use of such forces in Somalia, where a Special Operations raid last year killed the alleged head of al-Qaeda in East Africa. Plans exist for preemptive or retaliatory strikes in numerous places around the world, meant to be put into action when a plot has been identified, or after an attack linked to a specific group.
The surge in Special Operations deployments, along with intensified CIA drone attacks in western Pakistan, is the other side of the national security doctrine of global engagement and domestic values President Obama released last week.
One advantage of using "secret" forces for such missions is that they rarely discuss their operations in public. For a Democratic president such as Obama, who is criticized from either side of the political spectrum for too much or too little aggression, the unacknowledged CIA drone attacks in Pakistan, along with unilateral U.S. raids in Somalia and joint operations in Yemen, provide politically useful tools. Read more.
This proves that Cheney was willing to make the bottom 99% unwitting pawns to his desire of increasing profits for the top 1%! Also that he deserves to be put in jail for his crimes.
The article "As 'top kill' effort fails, BP must fall back on oil spill containment strategy" relating to Cheney's Energy Task Force Ruined the Gulf states "BP's three-day effort to throttle the leaking gulf oil well with multiple blasts of heavy mud has failed. The attempted "top kill" of the well was abandoned late Saturday afternoon, leaving the huge Macondo field deep beneath the sea floor once again free to pump at least half a million gallons of crude a day into the gulf...
"There's no silver bullet to stop this leak," Coast Guard Rear Adm. Mary Landry said.
We are being held captive to this catastrophe as a mediocre containment strategy is all that will be currently utilized as the article states "After that, the company could place another blowout preventer on top of the existing one. Meanwhile two drilling rigs at the surface continue to drill relief wells. That's a long-term strategy that requires engineers to hit a seven-inch target, the bottom of the leaking well, 3 1/2 miles below the surface of the gulf. The first of the two relief wells to hit the target will send a massive dose of cement to seal the leaking well. Read more.
Feds Move to Block Transocean's Bid To Cap Damages For Gulf Oil Spill
'This It Cannot Do,' Says Justice Department, And Compares Transocean To Titanic's Owners
By Jason Ryan | ABC News
"Suffice it to say, eleven crewmembers lost their lives in the immediate disaster stemming from the explosion and fire aboard the vessel. As for the oil spill, we shall forego a cascade of words like 'catastrophic' and 'cataclysmic' as they simply do not do justice to the magnitude of economic, health, and environmental devastation wrought upon the nation's waters, across a swath of States, and upon entire communities."
Hours after Attorney General Eric Holder disclosed ongoing criminal and civil probes related to the Gulf oil spill , the Justice Department has filed motions to block Transocean from seeking to limit their liability in the unfolding disaster. The documents were filed late Tuesday night in federal court in Houston, Texas.
The motion filed by the Justice Department follows Transocean's May 13 motion to seek limited liability of just $26.7 million. The Justice Department initially signaled to Transocean that it would oppose this in a May 24 letter to Transocean's counsel. Transocean has asked for limited liability under the Limitation of Liability Act of 1851, the same act invoked by the owners of the RMS Titanic when they awarded a paltry $95,000 to the survivors of the Titanic tragedy.
The May 24 letter said, "It is simply unconscionable, in the circumstances of this case, that Transocean is attempting to use this same shield of liability potentially leaving thousands of people who have been damaged by your clients' actions with no remedy."
Transocean owned the Deepwater Horizon, the mobile offshore drilling platform that exploded April 20, killing 11 workers. The explosion triggered the ongoing oil spill that has become the worst environmental disaster in U.S. history.
In the Tuesday filing, the Justice Department said, "Transocean seeks to absolve ('exonerate') itself from liability concerning the Deepwater Horizon explosion, fire, and oil spill, or, alternatively, limit its liability to approximately $27 million. This it cannot do." Read more.
BP has hired Dick Cheney's former press flack, Anne Womack Kolton, to serve as the new "head of U.S. media relations" as the company deals with the PR disaster of the ongoing oil spill in the Gulf. Kolton was Cheney's press secretary during the 2004 campaign, and then moved to a job in public affairs at the Department of Energy.
One of her tasks in her previous job was defending the administration's secret meetings with energy officials, even as courts were telling the White House to turn over documents about the task force: "We are ready to defend our principles in court. This goes to the heart of the presidency and to the ability of the president and vice president to receive candid, discreet advice."
Not a lot is known about the task force, since the administration succeeded in shielding it from the public. But it is known that BP officials were among the oil chiefs involved in the secret meetings. Read more.
I'm a fourth-generation fisherwoman from the Texas Gulf Coast, on a boat since I was eight. Over the last two decades, I've become a self-appointed watchdog of the chemical, oil, and gas corporations that are decimating the Gulf.
I hate to say it, but what I'm seeing now in the Gulf ain't nothing new. The toxic releases, the lies, the cover-ups, the skimping on safety, the nonexistent documents, the "swinging door" with regulators, the deaths. Same ole same ole.
What is new is the massive nature of the oil gusher and the fact that it can't be covered up because it's ongoing and being videoed. This elephant can't be swept under the carpet, but I'm sure if BP could, BP would.
There are politicians out there -- we've all heard them -- who say this oil spill is just one accident and one accident does not a case make. Heck, one plane crashes and you don't stop flying, do ya? Well, this isn't just one accident. This is the biggest flame among the thousands of fires set by Corporate America on its Sherman-like march across the Gulf. Read more.
Washington Post, Some Perks For Wall Street Execs Have Gone UP
"Some of the nation's biggest financial firms have increased the perks and benefits they pay their chief executives, despite the glaring spotlight from a public fed up with handsome bonuses at bailed-out Wall Street banks."
I was among those raving in wonder at the the passage of the financial reform bill. And now, having figured out how little has been done, I am just raving.
"Unbelievable," said one advocate who hoped for the best but expected the worst. He was amazed it even passed. The wise men in the media immediately began making comparisons with the New Deal. The pundits praised the President and the fact that a handful of Republicans did not just say no this time.
Somehow, even the most hard-headed among us realized that something had to be done to bring Wall Street in line if only because the mood in the country on this issue is practically insurrectionary. Read more.
It shouldn't surprise because no one gets the top job or any government position of power unless they're safe, yet, naively, most people thought Obama was different. Many still do.
As a candidate, he promised change, a new course, sweeping government reforms, addressing people needs, and "ensur(ing) that the hopes and concerns of average Americans speak louder in Washington than the hallway whispers of high-priced lobbyists" - the same ones who bought and now own him.
He promised peace and delivered war; real health and financial reform, not same old, same old; help for millions losing jobs, homes, hope and futures, not handouts to Wall Street and other industry favorites; regulatory oversight, not the usual incestuous government-industry ties, making disasters like in the Gulf possible, and when they happen conspiring with offenders in coverup, distortion, lies, and a total disregard for the environment, wildlife, and way of life for thousands - let alone permanent damage to a vital ecosystem.
At the same time, Big Oil gets billions in subsidies, special tax breaks and other financial benefits, besides operating in a regulatory-free environment.
The 1995 Outer Continental Shelf Deep Water Royalty Relief Act (DWRRA - courtesy of Bill Clinton) exempted royalties on defined amounts of deep water production. After its 2000 expiration, the law was redefined and extended to promote further deep water drilling.
By Dave Lindorff
It’s Memorial Day Weekend and I am sick to death of the glorification of war in America.
And I am even sicker of politicians who wrap themselves in the bloody flag and try to rub off some of the stench of death from the bodies of those who have died, mostly in vain for worthless causes, in hopes that taking on some of the odor will cause them to be perceived as admirable patriots themselves.
President George W. Bush, who dodged danger in the Vietnam War by signing up for the Texas National Guard and then ducked even that domestic duty, and Vice President Dick Cheney who used five different excuses to duck military service, morbidly rubbed themselves with that flag for eight long years, even as they sent hundreds of thousands of young men and women into harm’s for their own personal political advantage.
Michael Clauer is a captain in the Army Reserve who commanded over 100 soldiers in Iraq. But while he was fighting for his country, a different kind of battle was brewing on the home front. Last September, Michael returned to Frisco, Texas, to find that his homeowners' association had foreclosed on his $300,000 house—and sold it for $3,500. This story illustrates the type of legal quagmire that can get out of hand while soldiers are serving abroad and their families are dealing with the stress of their deployment. And fixing the mess isn't easy.
Michael went on active duty in February 2008 and was sent to Iraq. After he shipped out, his wife May slipped into a deep depression, according to court documents. "A lot of people say that the deployment is more stressful on the spouse than the actual person who's being deployed," Michael, 37, says in an interview with Mother Jones. May Clauer had two kids to take care of—a ten-year-old and a one-year-old with a serious seizure-related disorder. In addition, she was worried sick about her husband. Michael's company was doing convoy security in Iraq—an extremely dangerous job. "It was a pretty tough year for the whole company," he says. "We had IEDs, rocket attacks and mortar attacks, and a few soldiers that were hurt pretty bad and had to be airlifted back to the States."
Seeking to avoid hearing about the situation in Iraq, May stopped watching the news. She rarely answered the door, and Michael says he couldn't tell her when he went "outside the wire"—off-base. May also stopped opening the mail. "I guess she was scared that she would hear bad news," says Michael. That was why she missed multiple notices from the Heritage Lakes Homeowners Association informing her that the family owed $800 in dues—and then subsequent notices stating that the HOA was preparing to foreclose on the debt and seize the home. Read more.
The Miami Herald's Carol Rosenberg reports that, this week, yet another federal judge has ordered the Obama administration to release yet another Guantanamo detainee on the ground that there is no persuasive evidence to justify his detention. The latest detainee to win his habeas hearing, Mohammed Hassen, is a 27-year old Yemeni imprisoned by the U.S. without charges for 8 years, since he was 19 years old. He has "long claimed he was captured in Pakistan studying the Quran and had no ties to al Qaida," and that "he had been unjustly rounded up in a March 2002 dragnet by Pakistani security forces in the city of Faisalabad that targeted Arabs." Hassen is now the third consecutive detainee ordered freed who was rounded up in that same raid. The Obama DOJ opposed his petition even though the Bush administration had cleared him for release in 2007. He has now spent roughly 30% of his life in a cage at Guantanamo.
What's most significant about this is that Hassen is now the 36th detainee who has won his habeas hearing since the Supreme Court in 2008 ruled they have the right to such hearings -- out of 50 whose petitions have been heard. In other words, 72% of Guantanamo detainees who finally were able to obtain just minimal due process (which is what a habeas hearing is) -- after years of being in a cage without charges -- have been found by federal judges to be wrongfully detained. These are people who are part of what the U.S. Government continues to insist are "the worst of the worst" who remain, and whose release is being vehemently contested by the Obama DOJ.
The real disgrace here is that the U.S. Congress, in 2006, enacted the Military Commissions Act, which explicitly denied all Guantanamo detainees any rights to habeas review. The widely loved Lindsey Graham -- along with the profoundly noble Joe Lieberman and John McCain -- were the prime sponsors of that provision. Think about what that means, what the people who voted for that (including 12 Democratic Senators) tried to do: had the Supreme Court not struck down that provision by a 5-4 vote in Boumediene, all of these innocent people would continue to be denied any rights of judicial review, and would unjustly languish in prison indefinitely. The people who voted for the Military Commissions Act, and the 4 Supreme Court Justices who sought to uphold it, knowingly acted to deny scores of innocent prisoners any opportunity for judicial review. That's as warped and as evil as it gets. Read more, including update.
Today, we are launching a new campaign called Protect Our Elections to push for passage of pending common sense federal legislation to protect the votes of millions of Americans. We need your help to call on Congress to demand passage of these important bills. Please endorse this campaign by letting us know at email@example.com, and then spread the word.
Specifically, passage of legislation to stop unfair voter challenges, purging of voter rolls, felon disenfranchisement, misleading election information, unlimited corporate financing, and mandatory photo IDs in federal elections will protect voters this year. In addition, a strong, paper ballot requirement, to be fully implemented by 2012, will help protect our elections in time for the next presidential election and mitigate the threat from Internet voting. A list of the bills involved in this campaign is on our site with a short description and the full pdf version.
In preparing this campaign, we reviewed dozens of federal election protection related bills in both the U.S. House and Senate. While there are occasional changes we might call for here and there in some of them, overall, we believe these initiatives are important. Nonetheless, we value your input, so please let us know at firstname.lastname@example.org if you have any concerns or ideas so we can work with legislators to improve the bills as they work their way through committees and to the floors of each chamber.
Regarding the Paper Ballot Bill, we all agree that a hand-marked paper ballot is essential for every vote cast. That means, among other things, that Direct Recording Electronic voting systems (DREs), which do not have paper ballots, have no place in our democracy.
Unfortunately, there is not a current paper ballot bill that satisfies everyone. The Voter Confidence and Increased Accessibility Act (HR 2894), introduced last year by Rush Holt, would replace DRE systems by 2014 and is supported by many organizations, including some endorsers of this campaign. Other endorsers of this campaign do not support HR 2894 as written but would consider doing so with the amendments listed at www.protectourelections.org/paper. By endorsing this campaign, you can be part of the team that works to pass a strong paper ballot bill that meets the approval of all endorsers.
This campaign will include not only grassroots activism with thousands of petitions and calls to Congress, but also an inside approach working with Congress Members and their staff to make sure the bills passed are the strongest possible. Our initial push will be for passage of the DISCLOSE act to mitigate the corrosive effects of the recent Supreme Court case which ruled that corporations can spend unlimited funds on elections.
We need your help and your support. We cannot afford another election that denies millions of citizens their right to vote. Join us by signing on at email@example.com.
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- AP Impact: Bad cement jobs plague offshore rigs | Google News
- Oil Spill's Economic Toll Estimated in the Billions | ABC News
- Jean-Michel Cousteau Dispatches Team To Gulf Oil Spill | Ocean Futures
- Research Shows Federal Oil Leasing and Royalty Income a Raw Deal for Taxpayers | Solve Climate
- Investigator Warned MMS in 2009 About Deepwater Gas Blowouts in Gulf of Mexico | Solve Climate
- Regulators Conducted Lax Oversight of Oil Industry, Report Uncovers | Truthout
- Louisiana Fishermen Helping in Spill Cleanup Report Getting Sick | Fox News
- Read the Govt’s Report Blasting Drilling Regulators on Ethics, Drugs and Porn | ProPublica
- Fears Grow of Continued Oil Spill Through August | Democracy Now!
- Gulf oil plume darker; not good news, expert says | Desdemona Despair
- EPA Officials Weigh Sanctions Against BP’s U.S. Operations | Pro Publica
- Louisiana Fishermen Helping in Spill Cleanup Report Getting Sick | Fox News
By Charles M. Young
The Pentagon Channel is not the Military Channel. The Military Channel is Hitler plus top ten lists. You wanna know about the failed plot to assassinate the Fuehrer in 1944 and then learn the ten best attack submarines of all time--the Military Channel is your meat. It’s the NFL Network with a drill sergeant instead of a coach yelling at an audience of men so bored with their lives that trench warfare is an attractive alternative.
The Pentagon Channel is not the History Channel. The History Channel looks at many tyrants in addition to Hitler, plus UFOs and Biblical prophecies and ghosts. The Pentagon Channel is also not the the History Channel International, which is indistinguishable from the History Channel.
The world economic crisis has ended the taboo on referring to Marx. More and more works are being published on the author of Das Kapital, and the press is publishing special sections on him.
A discussion with Edgar Morin, the philosopher and sociologist, emeritus research director at the CNRS who holds honorary doctorates from many universities around the world and with André Tosel, the philosopher and specialist in Karl Marx and Marxism, professor at the University of Nice.
Although all of the many publications dedicated to Marx lately are not of the same quality, one can nevertheless only be surprised by this sudden increase in interest in him. When such magazines as le Nouvel Observateur and le Point, each according to its political orientation, look into Marx, it is at the very least indicative of certain splits in the mainstream media, whose ideological horizon remains limited to that of capitalist society.
"It may very well be that what we are witnessing is not simply the end of the Cold War or a particular post-war phase, but the end of history as such: (...) the universal adoption of Western liberal democracy as the definitive form of human government," Francis Fukuyama, the American leader of this school of thought, wrote in 1989, the year when the Berlin Wall fell. Almost twenty years on, in October 2008, New Yorkers were demonstrating in front of the Wall Street Stock Exchange and waving signs saying "Marx was right!"
Is his "return" the automatic result of the fall of the idols of neo-liberalism? To remain at this level of thought would be to see in Marx only another conception of the finality of history, "a free and classless society," a simple alternative to Fukuyama's conceptions, which has at long last been recognized as faulty. However, that postulate of the finality of history was used a great deal to legitimize authoritarian power in the days of "really existing socialism." Read more.
BP Houston: The Naked Truth--Rallying the Troops!
BP Houston: The Naked Truth--Singing in Action!
“Some purists believe environmental groups should keep a healthy distance from certain kinds of corporations, particularly those whose core mission poses risks to the environment.” No, what the “purists” actually believe is that these groups should not be raising money from the public to act as watchdogs of the oil companies, and then take money from the oil companies to rubber stamp their green washing efforts and shield them from criticism when they richly deserve it. It’s known in common parlance as a “scam.”
Ten days after the BP oil rig collapsed into a flaming ball of oil on April 20, I wrote a post about how most of the environmental groups still had nothing about it on their landing pages. [At left] Here was the Sierra Club’s landing page on the morning of April 30.
I chalked it up to an unwillingness to buck the White House, as President Obama had a press conference in the Rose Garden to announce the expansion of offshore drilling on March 31:
PRESIDENT OBAMA: So today we’re announcing the expansion of offshore oil and gas exploration, but in ways that balance the need to harness domestic energy resources and the need to protect America’s natural resources. Under the leadership of Secretary Salazar, we’ll employ new technologies that reduce the impact of oil exploration. We’ll protect areas that are vital to tourism, the environment, and our national security. And we’ll be guided not by political ideology, but by scientific evidence.
That’s why my administration will consider potential areas for development in the mid and south Atlantic and the Gulf of Mexico, while studying and protecting sensitive areas in the Arctic. That’s why we’ll continue to support development of leased areas off the North Slope of Alaska, while protecting Alaska’s Bristol Bay.
But the Washington Post is reporting that money from BP itself was also complicating matters for the enviros: Read more.
The Monahans are documenting their travels on Facebook and Twitter, as well as on their own blog, which included a note about their toe-dipping visit to the Pacific Ocean on day one of the walk across the country.
They have been endorsed by Move to Amend, a joint project of more than 50 organizations dedicated to overturning the Citizens United decision. Though the Monahan brothers went to boot camp together in 1964, and Laird served in Vietnam, neither belongs to VFW, Veterans for Peace or any other veterans group.
Two brothers in their late sixties are setting out on a journey they hope will "restore democracy to America." Starting out from San Francisco, Robin and Laird Monahan have begun a 3000-mile hike that will take them across ten states to Washington, DC.
Along the way, the Monahans hope to rally opposition to the controversial U.S. Supreme Court ruling in the case of Citizens United v. FEC. As the Times-Standard pointed out in a short piece on the Monahan brothers, the decision overturned sections of the McCain-Feingold campaign finance law, and ruled that corporations are entitled to some of the same rights as people.
RAW STORY caught up with them on foot outside Sacramento after they were interviewed on Davis Community Television.
"The Citizens United decision was just a hammer blow to me," Laird Monahan told RAW STORY. "Frankly, I was despondent for a couple of days. I just thought the end of my country had come to pass." Read more, listen to Raw Story Exclusive Audio.
Federal Court Rules Bagram Prisoners Can't Challenge Their Detention In U.S. Courts | ACLU | Press Release
Decision Gives Government Unchecked Power To Detain Individuals Indefinitely Without Due Process Or Transparency, Says ACLU
A federal court of appeals ruled today that three prisoners who are being held by the United States at Bagram Air Base in Afghanistan cannot challenge their detention in U.S. courts. The non-Afghan prisoners, some of whom were captured outside of Afghanistan far from any battlefield and "rendered" or transferred to Bagram, have been held at the detention facility for more than seven years without access to a court or counsel. The American Civil Liberties Union has filed habeas cases on behalf of several Bagram detainees and a Freedom of Information Act (FOIA) lawsuit for records relating to the detention, rendition and treatment of prisoners held there. The ACLU's Bagram habeas cases were not addressed by the court of appeals ruling today; the cases at issue were brought by the International Justice Network, the organization coordinating Bagram habeas litigation.
"Today's decision ratifies the dangerous principle that the U.S. government has unchecked power to capture people anywhere in the world, unilaterally declare them enemy combatants and subject them to indefinite military detention with no judicial review and little to no process for challenging their detention in any forum. The rule embraced by the court of appeals permits the executive branch to manipulate whether its actions will or will not be subject to judicial scrutiny, simply by choosing whether to fly a prisoner to Bagram or Guantánamo," said Melissa Goodman, staff attorney with the ACLU National Security Project. "Locking up people who were picked up far from any battlefield for years without telling them why, without giving them access to lawyers and without giving them a fair chance to contest the evidence against them is unlawful and un-American."
Federal prosecutors will not bring criminal charges against current and former American International Group Inc. executives for their role surrounding financial contracts that nearly brought down the insurer about two years ago, according to people familiar with the matter.
The decision brings to a close a criminal investigation that, while mostly under wraps, was widely followed. The September 2008 bailout of AIG was one of the biggest and most shocking of the financial crisis, as trading by a noninsurance unit brought down one of the most iconic financial companies world-wide.
The probe focused on Joseph Cassano, who headed a London-based unit of AIG called Financial Products, people familiar with the matter have said. Other executives at the unit, Andrew Forster and Tom Athan, also were targets of the investigation, these people said.
"The system worked," said lawyers F. Joseph Warin and Jim Walden of Gibson, Dunn & Crutcher LLP, who represent Mr. Cassano, in a statement on Friday. "The large group of federal agents and prosecutors was diligent and professional throughout the investigation, and our client is grateful that they did their jobs by following the facts to the end." Read more.