The Boom-Time Bums These operators capitalized on regulatory gaps and used financial gimmicks to engineer quick profits and inflate share prices. Then they cashed out—leaving the rest of us with the bill. Among the notables:Joe CassanoAs president of AIG's financial products division, Cassano pioneered the insurance giant's sale of credit-default swaps, which allowed investors to buy insurance on packages of risky subprime loans they didn't even own. In one 2007 investor conference call, Cassano