His media splash is really getting old and he obviously thinks that everyone in the world are fools. Former CEO Hank Greenberg is piling on the blame for the AIG problems to both the management team that took over when he was being charged for criminal activity (the civil cases remain active) as well as the government who he says blew it. Fortunately not everyone in Congress is buying this rubbish and they called him out. Please, please, please send in a competent auditing team to see what kind of deals were done during his tenure and shut him down once and for all. Saying "I don't know" about the tough questions like involvement in Credit Default Swaps is predictable but not going to cut it.
California Rep. Darrell Issa, the committee’s senior Republican, said he doubted Greenberg’s truthfulness given his involvement in numerous lawsuits related to AIG’s failure. And longtime AIG critic Rep. Elijah Cummings, D-Md., rejected Greenberg’s finger-pointing.The only thing puzzling is that Congress did not use this as an opportunity to immediately start an investigation into what specifically happened during Greenbergs days at AIG. Anyone who believes AIGs problems only started in the last four years is a fool.
“I’m convinced that the systemic problems at AIG go far deeper than mistakes made in the four years since you left the company,” Cummings said.
Still, Greenberg spent much of his testimony criticizing the government’s plan to prop up AIG, calling it “highly controversial and downright puzzling.”
