Greenberg: AIG’s Risky Subprime Activity ‘Exploded’ After He Left

October 10, 2008

  • October 10, 2008 at 2:24 am
    liz says:
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    I didn’t do it!
    Well I didn’t do it!
    I didn’t do it either!

  • October 10, 2008 at 3:22 am
    greedy says:
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    Go figure

  • October 10, 2008 at 3:40 am
    SPECTATOR says:
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    IF THESE GUYS BACK PEDAL ANY FASTER THEY WILL BREAK THE SOUND BARRIER.

  • October 10, 2008 at 4:05 am
    jimmy john says:
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    I have been feeling sorry for myself lately as my 401k tanks. But then I just think about poor old hank being the largest shareholder in a company that has collapsed. Poor guy.

  • October 10, 2008 at 4:35 am
    anon the mouse says:
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    That conniving scoundrel and his “What, I wasn’t there,,I didn’t know,,,Wasn’t me,,,What me worry” attitude has triggered more than just what we are watching on the tapes. The confidence in the whole monetary and finance system has been shaken to the core and we are yet to see what the total ramifications are to be.
    I have a good idea where he should put his Remington for safe keeping.

  • October 11, 2008 at 10:23 am
    Long-Term-Investor says:
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    It is Spitzer who was wrong. This never would have happened under Greenberg’s watch. We can thank Spitzer for the troubles at AIG.

  • October 12, 2008 at 10:37 am
    Outside looking In says:
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    It is well known that AIG’s culture has been to make your quarterly number or else. That “no excuses” culture leads to the type of risk taking that got them where they are now. AIG will get through this, but if the culture does not change, the next crisis may be their last.

  • October 13, 2008 at 9:29 am
    Matt says:
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    Yeah, sure, blame it all on Spitzer…. Hank couldn’t have possibly been responsible for this, seeing as how he ran the company for so very long, until so very recently…

    Did you actually read the story?

    And I QUOTE:

    “Greenberg was at the helm in 1987 when AIG Financial Products was born and in 1998 when it started getting involved in credit default swap insurance”

    So, seeing as how CDS’s CAUSED AIG’S MELTDOWN (no debate there), and seeing as how HANK WAS CEO WHEN THEY INITIATED THE PRACTICE, it is extraordinarily difficult to come to the conclusion that he is not wholly responsible.

    I feel no pity. He should be shown the inside of a jail cell, not pity.

  • October 13, 2008 at 10:07 am
    Know your history says:
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    Was the repeal of this act which seperated banks and insurance companies as much a cause of the whole mess as Clinton’s housing policies of the mid/late 90’s.

  • October 13, 2008 at 11:46 am
    Greenberg Supporter says:
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    The downfall of AIG was in the Financial side. The insurance side was doing fine. And it’s next to impossible for me to believe that Hank didn’t have investments under control during his tenure. one of his comments I believe was something like, ‘you can’t put ivestments in a drawer and forget about them’.



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