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Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America Highlight

posted on May 29, 2015 in: Quote.

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Once the sec-lending counterparties started pulling out, the run on AIG was on. Already besieged with requests for cash to cover nutjob Joe Cassano’s bets, AIG now needed to come up with billions more to cover the losses of the firm’s other idiot stepchild, Win Neuger.

— Matt Taibbi

Replicated under Fair Use from Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America by Matt Taibbi.