Who is he suing? You and me, that's who. See if you can follow this. Hank Greenberg, ex-CEO of AIG (about 4 CEOs ago) is suing AIG for the loss of a supposedly significant portion of his net worth, which he claims was lost due to the ineptitude and fraudulent practices of current management, which made AIG go into the toilet and be in the position it presently is in. Never mind that Greenberg resigned from AIG amid an accounting scandal that broke under his watch. Hmm.
Now, the government has bailed out AIG numerous times over the past few months to the tune of approximately 180 billion dollars. They have done the bailing with taxpayer money mostly. So that means you and I are part owners of AIG, which is now being sued by Hank Greenberg. Ergo, Hank Greenberg is suing us.
Is it just me, but with all the bailouts, the bonus scandals, the bailout monies going to the list of firms which AIG had to be pressured to disclose, don't you think we should just take that trip to the glue factory and deposit AIG there? Oh, and by the way, the CEO who was in charge at AIG when the stuff really hit the fan is an ex-Citi executive. Just saying.
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