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Hank Greenberg, former AIG chief and still a big investor in the firm, takes issue with views...

Hank Greenberg, former AIG chief and still a big investor in the firm, takes issue with views attributed to Treasury officials that the government doesn’t want to leave too much room for AIG investors to reap a windfall from their stock. It's “disgraceful to say they don’t want me or shareholders to make money... It sounds like the old Soviet Union." (earlier)
Comments (7)
  • Deal with it, Hank.
    Its disgraceful that the taxpayers had to bail your old company out.
    30 Sep 2010, 03:12 PM Reply Like
  • The government damn well better not leave anything on the table.

     

    It amazes how Hank Greenburg is completely shameless (I know he is not the only one). He should just shut up and be grateful that he gets anything as a shareholder.
    30 Sep 2010, 03:20 PM Reply Like
  • No, it sounds like the new Obama Union of Insolvent States.
    30 Sep 2010, 03:20 PM Reply Like
  • why should Hank Greenberg get a windfall from what he did to the company?
    30 Sep 2010, 03:28 PM Reply Like
  • Its Greenberg and the other shareholders of AIG that should receive the severe haircut. Not the taxpayer! Pay back the tax bucks to the public purse BEFORE taking ANY profits. Period.
    30 Sep 2010, 03:31 PM Reply Like
  • So true, esp after the counter parties in the club got a full 100%.
    Time someone other than the taxpayers takes a haircut.

     

    Read an interesting article (Barry Ritholtz?) a few weeks back about Sweden in the 80s and how they recovered from a mini banking crisis (major for them). They stomped on the senior debt holders and and forced them to take a haircut, rather than use government money.

     

    Bondholders screamed "foul!"

     

    Government said too bad, we arent spending taxpayer money after your banks screwed up.

     

    Nice.
    Expect to see the same thing in Ireland soon.
    30 Sep 2010, 04:40 PM Reply Like
  • it wasn't the debt holders only. it was the stock holders also as the banks were nationalized.
    30 Sep 2010, 09:56 PM Reply Like
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