Monday, June 15, 2009

Search for Scapegoats Goes Into High Gear (AIG Scandal Misunderstood)

And try not to forget that Hank is Charlie Rose's bestest friend! Yes, I covered this mountain of lies from his first interview on how poorly Hank was treated.

A lawyer for American International Group Inc. (AIG) (AIG) has told a jury that AIG's former top executive plundered a company retirement program of billions of dollars because he was angry at being forced out.

Attorney Theodore Wells told a jury in Manhattan Monday that former AIG CEO Maurice "Hank" Greenberg improperly took $4.3 billion in stock from the company in 2005.

Wells spoke during opening statements in a federal civil trial resulting from a lawsuit AIG brought against Starr International Co., a private investment firm run by Greenberg.

The embattled insurer is trying to reclaim the money from Starr it says was wrongly pocketed through stock sales by Greenberg.

Greenberg was ousted in 2005.

I have to admit I've been waiting for this story to be told. I'm guessing this is just the first installment. My further thought is that every single one of the investment groups from Goldman Sachs on down will trot out scapegoats for our continuing entertainment as we continue the march to serfdom. Madoff was the first. Suzan _________________

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