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  • Wall Street Breakfast: Must-Know News [View article]
    I am puzzled by the jury's acquittal of the two Bear Stearns fund managers. Looked like a prima facie case of misrepresentation, looked quite similar to what caused Henry Blodgett to change careers. As to AIG, it was not (just) a rogue division headquartered in London that imploded. Hank Greenberg, quite unrepentant, was forced to resign because he approved sham transactions with a reinsurer to prop up AIG's stated assets. I am sure many fine and ethical people worked for AIG but there was rot at the top of that organization, which was structured to evade to the maximum extent possible, any and all government regulation.
    Nov 11 14:43 pm |Rating: +2 0 |Link to Comment
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