No One Was Driving the AIG Train When It Went Off the Rails


AIG didn’t have the “infrastructure to call upon to respond” to its own liquidity crisis, the insurer’s former lead counsel Anastasia Kelly said today. Because apparently “there was no one in charge,” she said. What! What about the former CEO, Martin Sullivan, who retired soon after the crisis began with a $75 million retirement package? Unclear. “Mark Herr, a spokesman for New York–based AIG, declined to comment.” [Bloomberg]