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’Hank Greenberg takes on the government, Goldman, taxpayers
Oh, Hank.
In Wednesday’s Wall Street Journal, the AIG godfather inquires “why did we nationalise AIG?”
He’s puzzled, but thinks that the government and Goldman Sachs may have the answer (our emphasis):
Does Hank Greenberg read the news?
Having been CEO of AIG since the 1960s, only to resign in 2005 amidst a major accounting scandal, you could perhaps forgive him if he doesn’t.
Maurice `Hank’ Greenberg spoke with the Wall Street Journal this weekend past,
AIG, Greenberg settle dispute
AIG and Hank Greenberg have agreed to settle all the remaining lawsuits between them. The US insurer, rescued last year with more than $180bn of government money, will reimburse legal fees of up to $150m for Greenberg and Howard Smith,
Greenberg’s CV Starr says it’s only poached 13 AIG employees
On Monday, the New York Times declared Maurice “Hank” Greenberg to be “at it again”, by which they meant executing a talent raid on the company he once steered:
Even as he has been lambasting the government for its handling of A.I.G.
[The Lehman Anniversary] Quotes du crise
FT Alphaville presents a selection of visionary — and not so visionary — quotes from the Lehman crisis.
To start, Dick Fuld, CEO of Lehman, on October 6, 2008:
I’m not sure I would say it was a house of cards .
Greenberg pays $15m in SEC settlement
Hank Greenberg, former chairman of US insurer AIG, on Thursday agreed to pay $15m to settle the SEC’s investigation into his role in accounting fraud at the troubled insurer from 2000 to 2005. The settlement focuses on Greenberg’s alleged involvement in “numerous improper accounting transactions” that inflated AIG’s results.
SEC charges Hank Greenberg with talking up AIG
Speaking of a busy week for the SEC (emphasis FT Alphaville’s):
Washington, D.C., Aug. 6, 2009 – The Securities and Exchange Commission today charged former American International Group Chairman and CEO Maurice “Hank”
AIG loses $4.3bn case against Greenberg
Hank Greenberg, the former chief executive of insurer AIG, prevailed in a high-profile legal battle with his former company after a federal jury ruled in his favour over claims related to a $4.3bn lawsuit,
Greenberg admits ‘anger’ over AIG
Hank Greenberg, AIG’s ex-chief executive who was ousted in 2005, told a US federal court on Wednesday he had been “angry” and “unhappy” about his ouster from the stricken insurer, as AIG’s attorney sought to draw links between Greenberg’s exit and termination of AIG’s $4.3bn retirement plan,
Greenberg defends share move
Hank Greenberg, who was ousted as AIG’s chief executive in 2005, defended the decision to terminate a long-term compensation plan involving a block of the insurer’s shares now at the centre of a $4.3bn lawsuit.
Judge narrows scope of AIG case
A judge in an AIG civil trial involving Hank Greenberg, the insurer’s former CEO, imposed strict curbs on the scope of the federal court hearing on Monday. The public bail-out of AIG and the furore over its controversial bonuses cannot be discussed in a trial over a $4.3bn lawsuit involving Greenberg;
Greenberg attacks US over AIG
Hank Greenberg, the former chief executive of AIG, has accused the US government of bungling the insurer’s rescue by imposing a high-interest loan and forcing the repayment of $30bn-plus to banks and partners.
Lowlife grave diggers at the ‘Big Fix’
Extreme times make for unusual situations. Such was the spectacle of seeing one of the biggest, but most low-profile, buyout kings pop up at a panel discussion held Thursday at Manhattan’s Pershing Square restaurant.
Greenberg recruits ex-AIG executives
Maurice “Hank” Greenberg’s CV Starr said Monday it had formed a joint venture with a Bermuda insurer that is ramping up its business after recruiting some of AIG’s top talent, reports Reuters. The venture will reunite Greenberg,
From the desk of Maurice: “this can only be viewed as a distressed sale”
Maurice (“Hank”) Greenberg has more to say about AIG. He doesn’t like the fact that AIG has sold its division HSB to Munich Re. Perhaps ‘cos he wanted it. Or perhaps also ‘cos the board of AIG can do no right.
Greenberg to issue AIG rescue plan
Hank Greenberg, former chief executive of AIG, is soon to release a plan outlining an alternative way to save the stricken insurer that was rescued by the US government last month. Greenberg, who built AIG over four decades before being ousted in 2005,
What they said — and what they did (1): Hank Greenberg and AIG
So Hank Greenberg took the money, flogging off a good chunk of his AIG shares, along with another former AIG executive Edward Matthew, who sold off all his shares.
Bloomberg reports Friday that Greenberg sold 40m AIG shares for about $129m after the stock tumbled more than 90 per cent this year – just for “liquidity and other purposes”,
Greenberg sells a chunk of AIG shares
Maurice “Hank” Greenberg, the former chief executive officer of AIG sold off 40m shares of the stricken US insurer for about $126m after the stock tumbled more than 90% this year, reports Bloomberg.
AIG watch: Fed or dead?
UPDATE at midnight: CNBC is reporting that the Fed is considering an $85-90bn bridge loan to AIG; shareholders would be “severely diluted but not wiped out”, while the Fed would receive warrants for most of the equity.
Former AIG chief could face charges
Hank Greenberg, the former chief executive of American International Group, faces possible civil charges from US regulators in connection with a scheme that flattered the company’s financial statements.
Greenberg attacks AIG chiefs
Hank Greenberg, former chief executive of American International Group, has stepped up his campaign against current management, claiming the insurer is “in crisis” and urging the board to postpone tomorrow’s shareholder meeting.
Investors await Greenberg effect on AIG
Shares in American International Group rose almost 2 per cent after former chairman and chief executive Maurice “Hank” Greenberg revealed he could push for changes to the management and structure of the world’s biggest insurer.
Greenberg wagers on Chinese IPOs
Hank Greenberg is back in business in China, launching a small private-equity fund aimed at the nation’s IPO issuance, reports the Wall Street Journal. The former chairman of AIG will be pursuing deals through a JV he has set up with Citic Securities.