Some See Spitzer Role in AIG Crisis

By | September 19, 2008

  • September 19, 2008 at 12:34 pm
    Matthew says:
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    So it does not matter that Management was corrupt, guilty of bid rigging, and colluded with others to manipulate the marketplace. Give me a break. These are two separate issues, or does the mismanagement, and ignore the rules mentality still prevail at this company (and Wall Street). Wrong is wrong.

  • September 19, 2008 at 12:35 pm
    Joe Taxpayer says:
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    His hooker is going to cost us all a lot more than he ever paid!! Nice job Eliot you big phoney!!

  • September 19, 2008 at 1:01 am
    milo says:
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    Of course it matters! The real culprits were not Aig. As ar as spitzers seemingly personal attacks on greenberg. Well lets just say Elliott forgot he lived in a glass house. POS in my book. As far as Greenberg. He was and is better suited to handle this giant. Given the same plate I believe he pulls it of. The company has been so ocused on Elliott and the finacial damage that caused they were not watching the chicken coop so close. Too bad. Never come back from this. Surely its over or Aig.

  • September 19, 2008 at 2:06 am
    Stat Guy says:
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    I can’t believe someone predicted this! I don’t know that this makes any sense at all so it will probably happen; you can’t make this stuff up!

  • September 19, 2008 at 2:40 am
    Insurance Lifer says:
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    Spitzer, for all his personal failings, leveled the playing field and showed up Greenburg as the master manipulator of loss reserves, a role for which he has been known for decades. Greenbug’s loyal employee is convicted in the finite reinsurance scandal that brought down the CEO and CFO of Gen Re for arranging sham resinsurance to bolster loss reserves at AIG. Spitzer prosecuted admitted price fixing felons among the ranks of large, respected brokers. The “get Spitzer” mob found at every insurance organization meeting is just that…a lynch mob that shoots first and thinks about it later.

  • September 19, 2008 at 2:45 am
    Matthew says:
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    So Milo,

    You think Greenberg and Management @ AIG did nothing wrong a few years ago? For the same reason it is appropraite that Spizer is gone, it is appropriate that Greenberg is gone. Each did something wrong, that cost them their jobs and makes them unsuitable to hold such a public trusted position. This does not matter because it has nothing to do with the issues today. As I said, these are two separate issues. To say AIG failed because Greenberg is gone is rediculous.

  • September 19, 2008 at 2:58 am
    milo says:
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    Respected! Give me a break. I dont think so. The rest o your comments i agree with.

  • September 19, 2008 at 3:03 am
    milo says:
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    Not saying they failed because Greenberg is gone. Just said i thought he would have done a better job given the same scenario I did say Spitzer was a POS and lived in a glass house. And you are right. It doesnt matter anyway because neither of them are or will be invovled . I also think the govt should have let em go. hats where they are headed anyway.
    We canot and should not blame this deal on Spitzer. It was not his fault. This was coming for years .

  • February 4, 2009 at 6:30 am
    Insurance for Life says:
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    Spitzer caused the downfall of Hank
    Without Hank AIG could not survive.
    Since Hank there has been a revolving door of Leaders at AIG. Hank was only the 2nd CEO in the company’s history

    Those who came after Hank are all weak and do not have any historical ties to the company. Sullivan was incapable …he was brought in from the mail room and worked his way up. He new nothing about finance. Liddy has no vested interest. Neither knows the inner workings of AIG.

    Mr Greenberg needs to get on prime time and blow the whistle on all these incompetent people ..he is 85 have has nothing to loose



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