As CEO, one of the duties is to train and equip the executives to carry on the company as a successful thriving business. Hank failed at that duty which led directly to the meltdown.
Do not give him wiggle room, he has had his wiggle room for the last few years.
You’re kidding with your criticism. Your recollection of what happened in 2005 needs to be fact checked.
When Mr. Greenberg left, so did many of his closest advisors in the AIG executive suite. What you were left with was Martin Sullivan who didn’t know crap from Crisco. That jerk singlehandedly dismantled the protections that were designed to prevent the carnage we as taxpayers are now paying for.
Let me assure you that none of this would have happened if Mr. Greenberg had remained in charge. Yes, there would have been some speed bumps along the way, but AIG would be in no worse shape than, say, Goldman Sachs or Morgan Stanley.
Please assign blame where blame is due. Mr. Greenberg had far too much at stake and is as distressed as we all are. This simply was not his fault.
Bravo,California Broker
You are 100% correct
Moreso, how ironic that an accomplished man like Mr Greenbreg was sullied by a deceitful, duplicitious, *****-mongering rat Spitzer.
Mr Greenberg built the Company over almost 40 years.
Spitzer, motivated by higher office & who know$ what el$e, came after AIG’s and the industrys’ successful arrangement, known as Contingent Commissions .
Spitzer deceitfully called it bid-rigging, just to grab headlines and take down big names
But it sure back-fired in that a-holes face!
So what’s new, Silda ?
You’ve taken that schwandingler back
Now who’s the schlmiel ?
Greenberg’s problem is that everyone knows he knew about every nook and cranny of AIG accounting smoke over the last 40 years. And it was on his watch that the whole strategy for SWAPS was started by an ex Drexel idiot(do I hear Michael Milken’s legacy). So Hank picked the guy who did this, and remains responsible for that guy’s lack of skill. And it was lack of skill that caused the meltdown.
If Sullivan “removed” controls, which controls and when. You’ll find this is just more Greenberg smoke trying to avoid fessing up to personal responsibility. And trying to find an edge to regain lost power.
Let me get this right, Elliott is not charged with spending tax payers money on booze and prostitutes and Hank is being charged because of something that happened after he left.
Sounds like political hay for The NY AG.
Leave the old man alone. I think he was vendicated when Spitzer was found to be a hypocritical liar and corrupt politician.
1. Hank is sick about his personal monetary loss from AIG’s stock value.
2. Hank is sure glad he inappropriately diverted billions of dollars from AIG during the glory years to STAR International (which he and his cronies own 100%).
Hank is sure glad he sold significant holdings in AIG before the crash. Check the record, Hank and STAR were selling billions of dollars in AIG stock from the time he was pushed out to shortly before the crash. STAR may currently have a huge capital problem if they were relying too much on the value of the AIG stock they still hold.
3. Hank is glad for his current position (or lack thereof) in AIG, because it is the best defense against the shareholder and counter-party civil lawsuits that will be filed against the AIG Directors and Officers.
As CEO, one of the duties is to train and equip the executives to carry on the company as a successful thriving business. Hank failed at that duty which led directly to the meltdown.
Do not give him wiggle room, he has had his wiggle room for the last few years.
I can’t believe Hank “breaks down” on this news. he’s a tough cookie and not likely to break down.
You’re kidding with your criticism. Your recollection of what happened in 2005 needs to be fact checked.
When Mr. Greenberg left, so did many of his closest advisors in the AIG executive suite. What you were left with was Martin Sullivan who didn’t know crap from Crisco. That jerk singlehandedly dismantled the protections that were designed to prevent the carnage we as taxpayers are now paying for.
Let me assure you that none of this would have happened if Mr. Greenberg had remained in charge. Yes, there would have been some speed bumps along the way, but AIG would be in no worse shape than, say, Goldman Sachs or Morgan Stanley.
Please assign blame where blame is due. Mr. Greenberg had far too much at stake and is as distressed as we all are. This simply was not his fault.
Bravo,California Broker
You are 100% correct
Moreso, how ironic that an accomplished man like Mr Greenbreg was sullied by a deceitful, duplicitious, *****-mongering rat Spitzer.
Mr Greenberg built the Company over almost 40 years.
Spitzer, motivated by higher office & who know$ what el$e, came after AIG’s and the industrys’ successful arrangement, known as Contingent Commissions .
Spitzer deceitfully called it bid-rigging, just to grab headlines and take down big names
But it sure back-fired in that a-holes face!
So what’s new, Silda ?
You’ve taken that schwandingler back
Now who’s the schlmiel ?
You are both correct. If Hank had stayed and the hooker boy had not forced him out, there would be no govt. loan to AIG!
Hank is the man.
Greenberg’s problem is that everyone knows he knew about every nook and cranny of AIG accounting smoke over the last 40 years. And it was on his watch that the whole strategy for SWAPS was started by an ex Drexel idiot(do I hear Michael Milken’s legacy). So Hank picked the guy who did this, and remains responsible for that guy’s lack of skill. And it was lack of skill that caused the meltdown.
If Sullivan “removed” controls, which controls and when. You’ll find this is just more Greenberg smoke trying to avoid fessing up to personal responsibility. And trying to find an edge to regain lost power.
Let me get this right, Elliott is not charged with spending tax payers money on booze and prostitutes and Hank is being charged because of something that happened after he left.
Sounds like political hay for The NY AG.
Leave the old man alone. I think he was vendicated when Spitzer was found to be a hypocritical liar and corrupt politician.
1. Hank is sick about his personal monetary loss from AIG’s stock value.
2. Hank is sure glad he inappropriately diverted billions of dollars from AIG during the glory years to STAR International (which he and his cronies own 100%).
Hank is sure glad he sold significant holdings in AIG before the crash. Check the record, Hank and STAR were selling billions of dollars in AIG stock from the time he was pushed out to shortly before the crash. STAR may currently have a huge capital problem if they were relying too much on the value of the AIG stock they still hold.
3. Hank is glad for his current position (or lack thereof) in AIG, because it is the best defense against the shareholder and counter-party civil lawsuits that will be filed against the AIG Directors and Officers.