Not a Gambling Problem “I wouldn’t refer to it as gambling. [The credit default swaps were] underwritten individually and very carefully.” —Martin Sullivan, former AIG CEO, testifying before the House Committee on Oversight and Government Reform, that writing in the …
Spitzer’s Folly “When (Eliot Spitzer) was attorney general he was on a witch hunt, he’d go after anyone he could to get headlines. I look at the pattern (at AIG) from when Hank Greenberg went out, not just the crisis …
Federal vs. state—AIG “This argument is fundamentally flawed because it is based on a totally inaccurate assumption of facts. First and foremost, AIG is not an insurance company; it is a federally-regulated holding company under the jurisdiction of a federal …
Spitzer’s Folly “When (Eliot Spitzer) was attorney general he was on a witch hunt, he’d go after anyone he could to get headlines. I look at the pattern (at AIG) from when Hank Greenberg went out, not just the crisis …
A Case by Case Basis “TWIA’s guidelines are, and will continue to be, to look at each claim on an individual case by case basis and determine if the damage claim is covered under their policy.” —Jerry Johns, a spokesman …
Limited Options “In our view, AIG’s options are limited.” —Atlantic Equities analyst Alan Devlin, citing the giant insurer American International Group’s deteriorating stock price, and a more than tripling in AIG credit spreads since May. Fake Insurance Is a Real …
Whistleblower Retaliation “He was only looking out for the interest of his employees of the state treasurer’s office. … He refused to do something that was illegal.” —Kathleen Neary in Lancaster County District Court comments on a controversial case of …
Alabama Beach Progress “Unlike a hurricane which can strike swiftly and forcibly, it often takes time and deliberation to implement changes in policy but members of the Beach Pool are proud to report the significant progress we’ve made over the …
Do Not Come Back “Galveston has been hit hard. We have no power. We have no gas. We have no communications. We’re not sure when any of that will be up and running. … We want our citizens to stay …
More Subprime Challenges Ahead “The next few years will be very challenging for many insurers in terms of turning the page on credit issues and in strengthening balance sheets. While executives have been keenly aware of the subprime and other …
