AIG's New Competition Threatens on All Fronts

| About: American International (AIG)
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This story reminds me of the old Laurel and Hardy line which I am not quite sure if I recall exactly. But I believe it went, “This is one fine fix we are in now, Ollie."

AIG has competition from a Greenberg-run company which is siphoning business from AIG and along with it the ability to pay the several dimes which AIG owes the government.

And recently announced pay restrictions on AIG employees will hasten the exodus of AIG employees to the Greenberg entity and that exodus will further damage AIG’s competitive position.

Maybe the operative quote should be the Sir Walter Scott line which goes:

“What a tangled web we weave, when we practice to deceive."