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AIG's Hank Greenberg: Law, But No Justice.

When he was at AIG, Greenberg created a separate, offshore, pocket, Starr International, to reward executives (including himself), of his own choosing. Greenberg personally controlled this entity, apart from his chairmanship of AIG,.

After ousting Greenberg, AIG reasonably went to court  to "free up" Starr assets to compensate AIG executives. Nonsense, retorted Greenberg. Starr was his personal fiefdom. The fact that its intended use was to pay AIG executives had nothing today with it. Recently, a Federal judge sided with him, although some state Attorney Generals might beg to differ.

Unfortunately, the law was on Greenberg's side. It had to do with the way he set up Starr. So it was his to keep. And usually, the law is all that matters. But not in this case, because it wa an inequitable result.

If there were justice in the world, everything connected with AIG (as opposed to Greenberg's personal wealth) would belong to AIG. But it does look like Greenberg created another pocket, and outfoxed his old company. Barring an unexpeceted reversal, the law upholds him. And the law must be upheld.