WTF? Alert: Maurice "Hank" Greenberg Sues AIG, Saying Its Shares Were ‘Inflated’

[girl gone mad]

http://www.tpj.org/pioneers/maurice_greenberg.html">Bush Pioneer Maurice Greenberg was in charge of AIG while they were knowingly writing insurance without adequate reserves so that he and his fellow executives could heist billions in bogus short-term gains out of the company. Now we're stuck with the losses and Greenberg is suing claiming he was misled (by whom exactly, one wonders?).

Oh, and Don't forget that AIG is still suing us over taxes it doesn't want to pay.


Maurice Greenberg Sues AIG, Saying Its Shares Were ‘Inflated’
http://www.bloomberg.com/apps/news?pid=20601087&sid=aThygNETEI7A&refer=home

By David Glovin

March 2 (Bloomberg) -- American International Group Inc., which reported the biggest loss by a publicly traded U.S. firm, was sued for securities fraud by former Chief Executive Officer Maurice “Hank” Greenberg.

Greenberg filed his suit today in Manhattan federal court, saying the company’s “material misrepresentations and omissions” caused him to acquire AIG shares in his deferred compensation profit participation plan at an inflated valued.

The suit comes on the same day that AIG CEO Edward Liddy said that Greenberg was partially to blame for the firm’s woes. Greenberg, 83, led AIG for almost 40 years before being forced to retire in 2005.

The case is Greenberg v. AIG, 09-cv-1885, U.S. District Court, Southern District of New York (Manhattan).

[Joanne98]

1. Do you believe this? The nerve. Greenberg is a criminal just like Madoff.

I don't care if he's 83 years old they should throw him in jail!

[rfranklin]

2. Let's defer his compensation until he's dust...

That would be fair...plus if that's the case, he won't have to pay any taxes!