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| Hank Greenburg - Former CEO of AIG https://mail.chicagofanatics.com/viewtopic.php?f=75&t=94377 |
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| Author: | sjboyd0137 [ Tue Jun 09, 2015 11:00 am ] |
| Post subject: | Hank Greenburg - Former CEO of AIG |
My former employer. I was there during the 08 financial crisis. I got laid off in 2012. This piece of garbage thinks he could have kept them out of financial issues, when it was things he did as CEO for 37 years that put them in the position where they needed the money. I worked on the insurance side, which was never in danger of running out of money, but that didn't get covered. Now this fuck wants to be paid billions? Fuck him. http://www.washingtonpost.com/business/ ... story.html |
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| Author: | Hatchetman [ Tue Jun 09, 2015 11:05 am ] |
| Post subject: | Re: Hank Greenburg - Former CEO of AIG |
being a psychopath is a pre-requisite for achieving senior executive status. I'm not joking. You have to be willing to slit your mother's throat if that is what is "good for the organization". |
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| Author: | bigfan [ Tue Jun 09, 2015 11:41 am ] |
| Post subject: | Re: Hank Greenburg - Former CEO of AIG |
Watched a movie "Assault on Wall Street" last night....guy loses his investment, his job, his house, his wife...then systematically takes out Wall St execs who profitted during his downfall. Disturbing yes, kinda surprised never saw more of it. |
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| Author: | Jaw Breaker [ Mon Jun 15, 2015 12:16 pm ] |
| Post subject: | Re: Hank Greenburg - Former CEO of AIG |
Wins the case, but awarded no damages, lol. |
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| Author: | denisdman [ Mon Jun 15, 2015 12:26 pm ] |
| Post subject: | Re: Hank Greenburg - Former CEO of AIG |
sjboyd0137 wrote: My former employer. I was there during the 08 financial crisis. I got laid off in 2012. This piece of garbage thinks he could have kept them out of financial issues, when it was things he did as CEO for 37 years that put them in the position where they needed the money. I worked on the insurance side, which was never in danger of running out of money, but that didn't get covered. Now this fuck wants to be paid billions? Fuck him. http://www.washingtonpost.com/business/ ... story.html It has been an interesting debate within the insurance industry as to whether Hank could have saved AIG. I would venture to guess that AIG Financial Products would never have gotten so deep into derivatives if Hank was around. His successor, Martin Sullivan, is a Brit and was reported to not have a handle over the scope of AIG's operations. He was also supposed to be a back slapper who liked how the Financial Products division added to earnings without really knowing what they were doing. Hank is a noted micro manager who had his thumb on the empire. It is my understanding that the real reason AIG FP brought the company down is because they wrote those contracts to require collateral for losses based on flawed mark to market calculations. In that time period, those instruments could not be priced properly due to dislocations causing the collateral requirements to soar. There is no way Hank could have stopped the problem in September 2008. I doubt the counter parties would have bent those contracts for him, but he did have a big personality. More likely is that he would never have let AIG FP get to that point. |
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