AIG ‘Got Greedy,’ But Former CEO Never Did


Former AIG CEO Hank Greenberg is testifying in front of Congress today about the problems at AIG, which, he has insisted multiple times, only started after he left. “AIG’s business model did not fail — its management did,” he said. “I think they got greedy. I think they wrote considerably more business than they should have.” Incidentally, in 2004, the year before Hank Greenberg was forced out of his position at AIG, his net worth was $3.6 billion. [WSJ, TPM, Forbes]