Just a wild guess, he settled without admitting anything. I suppose we will never know the real story behind any of these issues. I wonder because I always felt sympathy for him in the way he was Spitzered.
He did. Absolutely no doubt about it. The stories go back years about how financial statements were prepared, and then last minute entries were booked, for large amounts, that came directly out of upper management. I’m sure he was too clever to have his fingers on the documents, but he directed them. He was known throughout the industry for his contempt for regulators and accounting rules. He (and AIG) consistently believed the rules of the industry were nothing more than obstacles to be overcome.
I have never understood how you can “settle” allegations of misconduct by paying money. What does the money have to do with the conduct? As asked by “nobody” did he or didn’t he? …and as answered by “mongoose” yep, he probably did.
General Electric was fined 50 million for mis-stating their financial condition. Lets see thats lying isnt it! Who did they lie to. Stockholders. Who got hurt buy the lie. We did!
In many countries this guy would be executed or jailed for like. He is and always has been a dishonest business man at the expanse of many hard working people all over the world. He gives the entire insurance industry a bad name!
if you rob a store it’s 15 years of man sex and cages. rip off 15 billion and it’s payoffs to the authorities. considering not many scientists think there’s actually a real hell, it looks like hank will die happy and that’s the end of it. sad. i’m surprised the situation doesn’t warrent more punishment.
Are any of you living in the real world? Settlements are done in insurance all the time when no actual blame is really there. The time and cost of spending time in court is outrageous. I have no sympathy for any individual committing crimes, I just like to have their guilt proved in court, not newspapers and blogs.
Greenberg later reiterated that he did not admit any claim under the SEC settlement except that he was the CEO of AIG “at the time of the accounting issue.”
So he did not admit to anything except being the chief decision maker and the person in charge at the time…
“AIG’s board of directors forced Greenberg to resign after he refused to cooperate with an internal investigation into accounting practices.”
He obviously had something to hide. The guy is more crooked than a hillbilly’s remaining teeth!
Just a wild guess, he settled without admitting anything. I suppose we will never know the real story behind any of these issues. I wonder because I always felt sympathy for him in the way he was Spitzered.
If he did nothing wrong why would he pay a multi-million dollar settlement? Most people would not pay a huge fine becuase they did nothing wrong.
Let’s wake up & smell the coffee.
He did. Absolutely no doubt about it. The stories go back years about how financial statements were prepared, and then last minute entries were booked, for large amounts, that came directly out of upper management. I’m sure he was too clever to have his fingers on the documents, but he directed them. He was known throughout the industry for his contempt for regulators and accounting rules. He (and AIG) consistently believed the rules of the industry were nothing more than obstacles to be overcome.
He deserves jail time, not a plea bargain.
I have never understood how you can “settle” allegations of misconduct by paying money. What does the money have to do with the conduct? As asked by “nobody” did he or didn’t he? …and as answered by “mongoose” yep, he probably did.
“Thank you sir. May I have another?”
General Electric was fined 50 million for mis-stating their financial condition. Lets see thats lying isnt it! Who did they lie to. Stockholders. Who got hurt buy the lie. We did!
Thats is a crime and so is this with AIG!
In many countries this guy would be executed or jailed for like. He is and always has been a dishonest business man at the expanse of many hard working people all over the world. He gives the entire insurance industry a bad name!
if you rob a store it’s 15 years of man sex and cages. rip off 15 billion and it’s payoffs to the authorities. considering not many scientists think there’s actually a real hell, it looks like hank will die happy and that’s the end of it. sad. i’m surprised the situation doesn’t warrent more punishment.
Are any of you living in the real world? Settlements are done in insurance all the time when no actual blame is really there. The time and cost of spending time in court is outrageous. I have no sympathy for any individual committing crimes, I just like to have their guilt proved in court, not newspapers and blogs.
Greenberg later reiterated that he did not admit any claim under the SEC settlement except that he was the CEO of AIG “at the time of the accounting issue.”
So he did not admit to anything except being the chief decision maker and the person in charge at the time…