AIG Former CEO!

The former Chief Executive Maurice “Hank” Greenberg of AIG has agreed to pay $15 million to settle a government allegations that he fixed the numbers. He was being accused for the years 2000 – 2005 for inflating AIG’s earnings. He was AIG’s CEO for over 38 years. He was terminated because he refused to cooperate with an internal investigation into his accounting practices. I should also say that his CFO has also settled with the SEC for $1.5 million. I sure hope that AIG goes after them if they received any bonuses based on these false numbers. And share holders should go after them as well. What the SEC should have done was toss both in jail for 20 years. There are more of these crocks out there, hopefully someday we’ll get them all.