Showing posts with label AIG. Show all posts

Sunday, March 29, 2009

AIG Using OUR MONEY To Advertise During NCAA Tournament!

OH I AM SO PISSED....just before the halftime break in the Louisville/Michigan game, there was a commercial on for 21st Century Auto Insurance...SO WHAT YOU ASK? Go do a quick bit of homework and you will find 21st Century is the new name of AIG's Auto Insurance Division! In short, our tax dollars not only go for AIG Bonuses, but for AD TIME during the NCAA March Madness basketball tournament...which means you can also bet that our money ALSO SENT AIG EXECUTIVES TO THE TOURNAMENT!

$180 Billion of our tax dollars spent on bailing out these scum, and they are spending it on advertising during the NCAA basketball tournament...ranks right up there with the $450 Million of our tax dollars they have spent handing out Bonuses! Two commercials and counting!

OUTRAGE TIME FOLKS!!!! LET IT FREAKING RIP!
aigdirect.com is now 21st Century Insurance
21st.com - get a free auto insurance quote, purchase and manage an auto policy online, save hundreds of dollars on your car insurance needs.

Is 21st Century insurance the same as AIG?

Yes, the U.S. now owns close to 80% of 21st Century Car Insurance.
In 1998, AIG acquired a majority interest in 20th Century Industries (now 21st Century Insurance).

In 2006, 21st Century Insurance Group provided direct-to-consumer personal auto insurance in the United States. It sold personal automobile insurance polices primarily in Arizona, California, Colorado, Florida, Georgia, Illinois,

Indiana,Minnesota, Missouri, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, Texas, Washington, and Wisconsin. The company was founded in 1958 and was headquartered in Woodland Hills, California.

In January 2007, 21st Century Insurance said they received an unsolicited $690 million offer from American International Group Inc. (AIG) for all of the shares that the auto insurer currently does not own. AIG offered $19.75 cents a share for the remaining 38.1 percent of the stock of the Woodland Hills-based company it does not already own and it made it a subsidiary of AIG (American International Group).
AIG is an international insurance and financial services organization. The U.S. government now owns close to 80% of AIG and 21st Century car insurance. Most taxpayers don't feel that they have any claim to the company.

Recently, they changed to market the name aigdirect, but are now marketing under 21st century car insurance. You can read their company listing here to understand more about the companies 21st Century Auto Insurance uses.

Tuesday, March 24, 2009

The BIG Liddy/AIG LIE...His ONE DOLLAR SALARY

We have all heard teh violins as both Congress and the News Media sing the praises of BRAVE AMERICAN HERO Edward Liddy who came out of retirement to try to pull AIG's bacon out of the fire as a SERVICE TO AMERICA...Spot Lights! (band starts up HAil To The Chief) Great Applause as weeping women who want to name their children after the man, some even wanting to have his BABY!

OH MY GOD...what a true American Hero! He came out of retirement to help solve this AIG crisis, and is doing it for ONE DOLLAR A YEAR! NOT EXACTLY, but Congress and the News Media do not want you to know that.

Has anyone read the FINE PRINT on Edward Liddy's CONTRACT? Has anyone asked how much he is going to be paid in 2010 based on the clause in his CONTRACT that GIVES HIM A PERFORMANCE BONUS?

Hired to Salvage A.I.G., Liddy Becomes a Target

Enlarge This Image

Todd Heisler/The New York Times

Before he testified in the House on Wednesday, Edward M. Liddy, the chief executive of A.I.G., talked with protesters. More Photos >

Now, in the minds of many, Mr. Liddy has become the personification of A.I.G.’s disaster.

On Wednesday, Mr. Liddy, 63, the man who was tapped for his behind-the-scenes financial savvy found himself at the center of public wrath of the President Obama, the Congress, and the American public, after revelations that he had approved the payout of lucrative bonuses to the very employees thought to have driven A.I.G. to its knees.

At the Congressional hearing, a horde of cameras and reporters awaited Mr. Liddy, subjecting him to the sort of limelight usually reserved for major felons or celebrities after an unfortunate night out.

But Mr. Liddy, who chatted with protesters as he entered the hearing room to testify before members of a House Financial Services subcommittee, repeatedly tried to make clear that he was not responsible for getting A.I.G. into this mess.

“Six months ago I came out of retirement to help my country,” said Mr. Liddy, 63, a former chief executive at Allstate insurance. “At the government’s request I’ve had the duty and extraordinary challenge of serving as chairman and chief executive officer of American International Group, or A.I.G.”

Mr. Liddy has no doubt questioned that decision on more than one occasion.

Monday, March 23, 2009

Open Letter To Campbell Brown...Stop Being Part of Obama Propaganda Machine!

Hello Campbell Brown:

Liars can Figure and Figures can lie, and I find it repugnant that you (and CNN) are now trying to get us to forget about the $165 Million in bonus money, trying to tell us to look at the BIG PICTURE. Big picture...

How about, for starters, $50 Billion or more of the money we gave AIG came in the front door, and went right out the back door to BANKS IN FOREIGN COUNTRIES!

Big picture...lets talk about CV Starr-Starr International being set up to be the NEW AIG which has always been AIG...IE, seen how many AIG folks have been hired by Maurice Greenberg controlled companies?

Big Picture...$14 out of every $15 dollars to buy up TOXIC ASSETS is OUR MAIN STREET TAXES. You and CNN are trying to tell us, that in the long run we will or might see a return on our investment! Who are you trying to FOOL? Even if at some future date and time those investments break even or see a profit, WE WILL NEVER SEE A DIME OF IT.

Here is a CLUE...Main Street is tired of the games, and that includes the ones you people in the press are playing. IE...how come you and Rick Sanchez (as example) never do stories about the anger ON MAIN STREET at 7.5 million illegal aliens working while 12.5 million Americans are out of work. Trust me, we see Illegal Aliens as SCUM, not because they are of Latino descent, but because they are A) criminals and B) have stolen and are stealing food from our LEGAL AMERICAN FAMILIES.

How about you coming out and being honest Campbell Brown...do a story on how Obama LIED TO US about the AIG Bonus money, about how the White House wants the Senate to drop the AIG Bonus issue, and wants the press to TAMP DOWN MAIN STREET ANGER. How about doing a story about Obama and E Verify...you know, the one where he had Senator Reid kill E Verify as too many Illegal Aliens would lose their jobs before he and Congress could grant them AMNESTY!

How about a story telling Main Street Americans that we can kill the AIG Dragon by joining together and CANCELLING our business contracts with them in the form of insurance policies, by instructing our investment brokers to divest our 401 K's of anything directly or indirectly associated with AIG.

Start reporting like a reporter instead of acting as a mouth piece for the Obama Propaganda Machine. IT IS US OR THEM, and RIGHT NOW YOU ARE ACTING AND REPORTING LIKE A THEM.

Sunday, March 22, 2009

Wall Street,Banks, AIG, Illegal Aliens...Time For Main Street Retribution?

Is Your Main Street America Dream Worth Standing Up For, Protesting For, Dying For? Wake Up Main Street, It Is US OR THEM...Stand Up, Be Heard, Or Be Enslaved.

For those in the crowd who are news junkies today has been filled with a certain amusement as we watch the pundits make the Sunday Morning circuit of news shows, attempting to diffuse the anger on Main Street. The basic spiel goes something like, "We have to put the bonus money in its proper perspective, time for Americans to move on to more important issues...after all, these bonuses represent less than...blah, blah...blah, blah and blah. I can agree with the putting it all in perspective part.

So far, Main Street America has been put on the hook for two trillion dollars (and growing).

We have been forced to bail out both Wall Street and Main Street.

Of the $180 Billion promised to AIG, over $80 Billion (and growing went right in the front door and out the back door to banks in foreign countries!

We are going to be told on Monday that we have to take on the financial responsibility (as taxpayers) another $2 Trillion dollars to buy up the Toxic Assets that are floating around...what they do not want you too know, is we are going to be the BACKSTOP that will allow the banks we BAILED OUT to buy those assets from themselves with our money AT BARGAIN BASEMENT PRICES.

While 12.5 Million LEGAL AMERICANS are out of work, the Department of Homeland Security, ICE, Border Patrol and President Obama refuse to take any actions against the seven million illegal aliens that STILL HAVE JOBS...in fact, the TWO CUNTS PELOSI and NAPOLITANO (YES, I SAID CUNTS!!!) have said enforcement of OUR LAWS, conducting ENFORCEMENT RAIDS is CRUEL!

President Obama demanded that E Verify be kept out of the Stimulus Bill...as a result of this reality, 300,000 Stimulus Jobs PAID FOR WITH OUR TAXES will go to ILLEGAL ALIENS.

Senator Dodd, Treasury Secretary Geithner and President OBama lied to us about what they knew regarding AIG bonus money, and when they knew about it.

The list could go on, but Main Street Americans should be able to look at this list and realize it is time to nip Obama's AGENDA in the bud. It is time that Main Street Americans begin MAKING DEMANDS IN WASHINGTON, DC, and if necessary be prepared to take to the streets in seeing our demands MET...enough LIP SERVICE. In short, I am stating for the record, THE TIME HAS COME FOR RETRIBUTION.

1. We want Everify, and we want it mandatory FOR ALL BUSINESSES effective immediately, and we want it fully funded.

2. FUCK YOUR AMNESTY. (This goes for Reid, Pelosi, Obama and every other SCUM BAG wanting to REWARD ILLEGAL ALIENS.) Instead, we want ENFORCEMENT, WE WANT BORDER SECURITY, and if Janet Napolitano and Eric Holder are not willing to FULLY AND ACTIVELY ENFORCE OUR IMMIGRATION LAWS TO THE FULLEST EXTENT OF THE LAW, WE DEMAND THEIR RESIGNATIONS EFFECTIVE IMMEDIATELY. 12.5 Million Americans ARE OUT OF WORK, and we want the SEVEN MILLION CRIMINAL ILLEGAL ALIENS STEALING OUR JOBS GONE, and that MEANS DEPORTATION.

3. We want Treasury Secretary Geithner GONE. We are talking RESIGNATION, EFFECTIVE IMMEDIATELY.

4. YOUR PLAN FOR buying up TOXIC ASSETS does not work for Main Street...we are not willing to have our money PUT ON THE LINE so that the rich can use it to buy up TOXIC ASSETS to cash in later at HUGE PROFIT. LET AIG and other Wall Street groups including banks FAIL! How much more can we get hurt anyway...you are already trying to force BOOMERS to accept a reality that they have to work till they are 68-72 so that you can reel in Social Security.

5. YOUR BUDGET Mr. PRESIDENT...FUCK IT TOO....we do not want THAT DEBT. Take your Health care and MOST OF YOUR Energy plan and PARK THEM! THIS INCLUDES ALL FUNDING AND LOAN GUARANTEES TO NUCLEAR. Simply stated...we in the middle class have suffered enough, and ARE NOT WILLING TO TAKE IT UP THE ASS so you can give what we have left to the poor and illegal aliens. You can come back and discuss these two issues with us once we have seen at least TEN MILLION ILLEGALS SHIPPED OUT OF AMERICA by any means possible, including by the point of a gun held by a member of our military.

To Main Street Americans...how long are you going to sit on your hands AND TAKE IT FROM A GOVERNMENT THAT HAS NOT PROTECTED YOUR INTERESTS FOR THREE DECADES. Please, WAKE UP...we are at a defining moment in America's history, and our destiny, the destiny of our LEGAL AMERICAN CHILDREN is at risk. Put aside political correctness, and DEMAND RETRIBUTION, MARCH IN THE STREETS, PICKET EVERY AIG BUSINESS LOCATION, put one million people on the street in Front of the White House, organize a sit in at the Washington Office of your elected officials.

Congress has for too long heard from Wall Street, From Banks, From the Insurance Industries, From Lobbyist, and FROM ILLEGAL ALIENS...now the time has come for Congress to HEAR MAIN STREET AMERICA LOAD AND CLEAR.

Friday, March 20, 2009

Bernanke, Maurice "Hank" Greenberg, AIG, Maiden Lane, Geithner, Obama...All BUTT SNIFFING CRIMINALS RAPING AMERICA!

HELLO FOLKS....We have Maurice Greensberg on CNN lamenting the Retention Bonuses, wailing in great lamentations that there are no handcuffs attached to those Retention Bonuses while anyone that does a cursory bit of research would know that those AIG Executives leaving are all going TO MAURICE CONTROLLED INSURANCE RELATED BUSINESSES that he has registered in Bermuda for TAX PURPOSES.

Did CNN bother to see how much of AIG's stock NOT OWNED by the Federal Government is or was recently held by Maurice Greensberg and his family? By the way, lets not forget to look at Maurice's disgruntled rumblings about Maiden Lane...you remember Maiden Lane/Bear Sterns/Treasury Secretary Geithner.

By the way...AIG/Liddy...NAME CHANGE...am I the only one noticing that Maurice and his newly formed company is bringing all the pieces of AIG together under on Umbrella, and hiring all of AIG's TOP SALESMAN?

Any one care to tell me that Obama is not in on this BUTT FUCKING of Main Street America? Come on, he is FULLY SUPPORTIVE OF Geithner...Geithner was/is Maurice "Hank" Greenberg's and AIG's MAN...has been since he was here in New York.

Joe Boren, longtime Chairman and CEO of AIG Environmental, and John O'Brien, President of the Company, have both resigned. On January 5, AIG Commercial Insurance issued a statement that Russ Johnston has been named President and CEO of AIG Environmental, and that Kim Hanna is now Executive VP and COO of the Company.

Additionally, in the aftermath of AIG's statement on the management changes, the Bermuda-based insurer Ironshore, Inc. announced on January 6 that Joe Boren and John O'Brien have joined a newly established Environmental Insurance division of Ironshore in New York City, with Boren as CEO and O'Brien as President.

AIG senior reinsurance executive Charles Dangelo has left the insurer to join a company run by its former CEO Maurice "Hank" Greenberg.

Dangelo joins the growing number of executives who have left American International Group Inc. since the insurer was first bailed out by the U.S. government last September.

He has been named chief executive for Starr Indemnity & Liability Co., chief executive of Starr Excess Lines Insurance and director and chairman of Starr Insurance and Reinsurance, all subsidiaries of Starr International Co.

Greenberg said in a statement on the appointment that Dangelo would help Starr International to develop its property/casualty business.

Rates for property-casualty coverage are rising after several years of declines, spelling opportunity for well-capitalized companies in the sector. Insurers' and reinsurers' ability to write new business is dictated by how much capital they can afford reserve for future claims.

AIG said it had no comment on Dangelo's departure.

Greenberg has been ramping up his operations since last year, hiring more staff and entering a joint venture between C.V. Starr and Bermuda insurer Ironshore Inc, called Iron-Starr Excess Agency Ltd. Ironshore has recruited several executives from AIG.

In recent months, other former AIG executives have joined Zurich Financial Services Group, Ace Limited and privately-held Ironshore.

http://www.efinancialnews.com/archive/tag/American_International_Group/1/content/1053656123/restricted

AIG/Maiden Lane

AIG and Maiden Lane pay $62bn to settle derivatives

18 Mar 2009

American International Group and Maiden Lane III, a US Federal Reserve financial vehicle, agreed to pay $62bn (€47.5bn) to settle derivatives transactions with 16 investment banks, getting in exchange securities whose market value had declined below $30bn, a regulatory filing showed.

AIG says Greenberg "responsible" for collapse

04 Mar 2009

Tags: American International Group Maurice Greenberg US Insurance

AIG/Starr International

Greenberg set for legal showdown with AIG over offshore account

03 Feb 2009

Hank Greenberg, the founder and former chairman of American International Group, is poised for a legal showdown with the federally rescued insurer on March 2 over who controls an offshore account that AIG’s existing management intends to use to pay executive bonuses.

Maiden Lane III Buys CDOs From AIG Counterparties - Regulato...

Maiden Lane III already has agreed to buy CDOs with a total principal amount ... Maurice Greenberg, the former chairman of AIG, who is now chairman of C.V. ...

www.lifeandhealthinsurancenews.com/News/2008/12/... - 66k - Similar pages

http://www.lifeandhealthinsurancenews.com/News/2008/12/Pages/Maiden-Lane-III-Buys-CDOs-From-AIG-Counterparties.aspx

AIG sells $39.3B of mortgage-backed securities to Maiden Lan...

Dec 16, 2008 ... Maiden Lane II is a new fund that was created to hold mortgage liabilities ... Former CEO Maurice "Hank" Greenberg questioned whether the ...

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http://www.thedeal.com/dealscape/2008/12/aig_sells_393b_of_assets.php

Greenberg wants more info from AIG on U.S. deal - 898429 - 2...

By Lilla ZuillNEW YORK (Reuters) - Maurice 'Hank' Greenberg, ... This followed the U.S. Federal Reserve forming Maiden Lane LLC earlier in the year to hold ...

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http://www.eleconomista.es/empresas-finanzas/noticias/898429/12/08/Greenberg-wants-more-info-from-AIG-on-US-deal.html

Greenberg wants more info from AIG on U.S. deal Reuters

Dec 2, 2008 ... NEW YORK (Reuters) - Maurice Hank Greenberg, the former chief executive ... This followed the U.S. Federal Reserve forming Maiden Lane LLC ...

www.reuters.com/article/ousiv/idUSTRE4B15OG20081... - 71k - Similar pages

http://www.reuters.com/article/ousiv/idUSTRE4B15OG20081202

Greenberg questions whether Fed overpaid for toxic AIG secur...

(Reuters)—Maurice “Hank” Greenberg, former American International Group boss, ... The New York Fed extended a loan to Maiden Lane II to enable the purchase ...

www.financialweek.com/apps/pbcs.dll/article?AID=... - 38k - Similar pages

http://www.financialweek.com/apps/pbcs.dll/article?AID=/20081216/REG/812169987

Political Friendster - AIG (American International Group ......

Nov 1, 2005 ... Maurice R. Greenberg, American International Group Board of Trustees at "The Institute" ... "Throw in the Bear Stearns/Maiden Lane fiasc. ...

www.politicalfriendster.com/showPerson.php?id=23... - 50k - Similar pages

Greenberg questions whether Fed overpaid for toxic AIG securities

December 16, 2008 10:05 AM ET

(Reuters)—Maurice “Hank” Greenberg, former American International Group boss, has questioned whether a Federal Reserve Bank of New York fund, charged with taking on some of the troubled insurer’s toxic holdings, paid the right price for some packaged debt securities.

Mr. Greenberg, a top private shareholder of the insurer, wrote a letter to AIG CEO Edward Liddy in which he said he is interested in knowing more about a sale of $39.3 billion of assets to the fund, announced by the company on Monday.

In the transaction, the fund bought securities held by the insurer’s counterparties. Mr. Greenberg refers in the letter to reports the CDOs were purchased by the fund at face value, and notes the securities had likely been marked down by the counterparties. He added that AIG had marked the CDOs down to about 50%of face value.

“It certainly seems it was very good for the counterparties,” wrote Mr. Greenberg in the letter.

The fund, Maiden Lane II, was created to hold mortgage liabilities from an AIG securities lending portfolio that caused huge losses to the troubled insurer, the company said in a press release on Monday.

The New York Fed extended a loan to Maiden Lane II to enable the purchase of the securities for $19.8 billion.

Maiden Lane LLC was an entity established to take on the toxic assets of Bear Stearns when it was purchased by JP Morgan. Bernanke hired Blackrock to oversee the pool. During his Senate Finance Committee confirmation hearing on January 21, Timothy Geithner said he said that he thought Maiden Lane's disclosure was "adequate."

On December 29, the central bank's Board of Governors wrote a report to Congress saying that it didn't expect “any net loss to the Federal Reserve or taxpayers” from the Bear Stearns holdings.

It hasn't worked out that way:

Feb. 4 (Bloomberg) -- U.S. taxpayers may be stuck with losses on $30 billion of Bear Stearns Cos. assets owned by the Federal Reserve even though the central bank has said otherwise, according to Robert A. Eisenbeis, Cumberland Associates Inc.’s chief monetary economist.
“There is no prospect for a profit on the assets,” Eisenbeis wrote in a report yesterday. “Losses are mounting.”
The CHART OF THE DAY illustrates the extent of the losses since June, when the Fed began providing data on the holdings’ value. The biggest declines were recorded after quarterly mark- to-market adjustments.
Last week’s total was $4.22 billion, as shown in the chart. JPMorgan Chase & Co. is responsible for the first $1.15 billion under terms of an agreement completed in June, when the company took over Bear Stearns. The Fed picks up the rest.
“The transaction was not structured with adequate over- collateralization
DEALBOOK
Where was Geithner in turmoil?
By Andrew Ross Sorkin http://www.iht.com/articles/2008/11/25/business/25sorkin.php
Published: November 25, 2008
But Geithner's involvement in several ultimately ill-fated efforts to buttress the American financial system is the very reason some Wall Street CEO's — a number of whom spoke on the condition of anonymity for fear of piquing the man who regulates them — question whether he's up to the challenge.
"We have only two things to say about Tim Geithner, who we do not know: AIG and Lehman Brothers," said Christopher Whalen of Institutional Risk Analytics. "Throw in the Bear Stearns/Maiden Lane fiasco for good measure," he said, referring to the site of the New York Federal Reserve, where many rescue discussions took place.
"All of these 'rescues' are a disaster for the taxpayer, for the financial markets and also for the Federal Reserve System as an organization. Geithner, in our view, deserves retirement, not promotion."
Ouch.
By David Fitzpatrick
CNN Special Investigations Unit

NEW YORK (CNN) -- The ex-CEO of the battered insurance and financial services company AIG said Wednesday the bonus plan for executives at his old firm was slipshod in recent years, with employees frequently leaving after receiving retention bonuses.

Former AIG CEO Maurice Greenberg says employees got retention bonuses and could still leave the company.

"You get a retention bonus and there was no handcuffs on that," said former CEO Maurice "Hank" Greenberg. "You get a retention bonus and you can leave the next day. There was no commitment, somebody saying, 'You have to stay.' And many people left. They took the bonus, said thank you and left."
Greenberg was ousted from the company in 2005, after more than 30 years as its chief, in the middle of a New York state investigation into its accounting. But he remains the largest single shareholder in AIG, which has been kept alive after massive losses from complicated financial instruments tied to real estate, and he filed a securities fraud lawsuit against the company earlier this month.
A year ago, he launched a campaign to replace all AIG board members, who he said had done a poor job. In his interview with CNN, Greenberg said directors gave themselves a significant pay raise after he left the company.
"It makes me feel terrible," he said. "This was the biggest, greatest insurance company in history."
Greenberg reportedly takes Fifth at inquiry
Regulators question deal with Buffett's General Re
By James Bernstein Newsday
April 13, 2005
NEW YORK - Maurice R. "Hank" Greenberg took the Fifth Amendment "dozens of times" when he was questioned yesterday about possibly illegal transactions between the giant insurance firm he headed for nearly 40 years and a unit of Warren E. Buffett's Berkshire Hathaway Inc., sources told Newsday.

Greenberg, 79, who stepped down last month as chief executive officer of the world's largest insurer, American International Group Inc., invoked his right against self-incrimination to all questions except his name during an approximately 45-minute session with state and federal regulators, the sources said.

The session took place at New York Attorney General Eliot Spitzer's Broadway offices. Regulators from the New York State Insurance Department and federal prosecutors also questioned Greenberg.

Brad Maione, a spokesman for Spitzer, declined to comment. Robert Morvillo, one of Greenberg's lawyers, also declined to comment.
HELLO FOLKS....WE HAVE PAID ALMOST TWO HUNDRED BILLION, AND OBAMA/GEITHNER ARE HELPING MAURICE GREENBERG STEAL AIG, MOVE THE WHOLE CRIMINAL INSTITUTION INTO A NEW SHELL WHILE LITIGATION AROUND HIS CRIMINAL ACTIVITIES SWIRLS....HE JUST NEEDS TO KEEP BUYING MORE TIME AS HE PICKS THE AIG CARCASS CLEAN.
"AIG is in crisis," Greenberg's letter said.
An AIG spokesman, Chris Winans, said the company received the letter on Monday, and had forwarded it to members of the board. The board said Monday evening that it saw no need to postpone the shareholder meeting.
Today in Business with Reuters
Fed to pump another $1 trillion into U.S. economy
U.S. outcry forces chief of A.I.G. to give ground
Cuomo wins ruling to name Merrill bonus recipients
Greenberg's letter follows a lawsuit filed last week by Starr International, a company that Greenberg controls, against AIG and its chief executive, Martin Sullivan, as well as Steven Bensinger, who on Thursday announced he would step aside as chief financial officer to assume another position at AIG
The suit, filed in New York State Supreme Court in Manhattan, claims that the insurer fraudulently misrepresented its exposure to credit default swaps, and seeks to recover at least $300 million in damages.
Greenberg, who parted ways with AIG in 2005 amid an accounting scandal, is chairman of C.V. Starr and Starr International, which were once affiliated with AIG, and are still the insurer's largest shareholders.

Last updated: 10:27 am
February 3, 2009
Posted: 2:57 am
February 3, 2009
Hank Greenberg will finally get his day in court.
The founder and former chairman of American International Group is set to duke it out March 2 with the federally rescued insurer over who owns an offshore account that AIG's current bosses want to use to pay executive bonuses.
AIG wants to seize Starr International Co., an independent Bermuda company that owns a huge stake of AIG shares once valued at $20 billion but now worth only about $300 million due to AIG's flagging stock price.
"AIG's goal in this case is to recover assets that were misappropriated by [Starr], the entity that Mr. Greenberg now controls," AIG said in a statement.

NEW YORK, Mar 13, 2009 (A. M. Best via COMTEX) -- AIG Quote Chart News PowerRating -- A New York state court rejected an appeal by Maurice R. "Hank" Greenberg and a group of former American International Group Inc. officials who sought to halt a lawsuit stemming from a fight over control a block of AIG stock held by Greenberg's Starr International Co.
A panel of the New York Supreme Court's Appellate Division, First Department, rejected an appeal of a lower judge's order rejecting a stay of the case while a similar lawsuit in U.S. District Court in Manhattan is heard.
"AIG's allegations herein arise out of defendants' alleged independent fiduciary duties to AIG by virtue of their express pledges to preserve the value of said stock," the decision said. "A finding as to SICO's duty to AIG would not affect defendants' potential liability as independent fiduciaries of AIG and would not dispose of or significantly limit the issues involved in this action or pose a risk of inconsistent rulings."

Greenberg in AIG Suit Faces Losing Most of $1 Billion (Update1)
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By Jef Feeley
Aug. 22 (Bloomberg) -- American International Group Inc. shareholders say Maurice ``Hank'' Greenberg and other executives owe them almost $1 billion for diverting funds to a company controlled by the former AIG chief executive officer.
A Louisiana teachers' pension fund claims that for five years, the former AIG executives overpaid closely held C.V. Starr & Co., where they served as officers. Starr gave the executives bonuses based on the fees from New York-based AIG, according to a lawsuit by the pension fund.
``I think investors have a decent shot at recovering what they are seeking,'' said Robert Zito, a securities lawyer in New York who reviewed plaintiff and defense pretrial briefs. Chancery Court Judge Leo Strine in June 2006 ruled against a defense motion to dismiss the shareholder suit.
Any damages awarded at a trial set to begin Sept. 15 in Wilmington, Delaware, would be paid directly to AIG, the largest U.S. insurer by assets. The company suffered $13.2 billion in losses in the first half of this year and recently was required to write down $11 billion of its holdings -- a move that could force it to raise more capital.
Greenberg gears up for battle with AIG
A court fight may decide whether a pot of shares once worth more than $20 billion goes to AIG or the former chairman's charity.
By James Bandler and Doris Burke, Fortune staff
February 5, 2009: 2:07 PM ET

Hank Greenberg's legacy
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(Fortune) -- Did former American International Group chairman Maurice R. Greenberg betray a longstanding commitment by seizing control of billions of dollars worth of AIG shares pledged to employees?
That's the question at the heart of a case slated for trial next month in New York federal court that pits the once-mighty insurance giant against the man who ran it for nearly four decades.
Greenberg was forced out of AIG in 2005 amid a wide-ranging probe into the company's accounting by former New York Attorney General Eliot Spitzer. But Greenberg managed to retain control of a sister company known as Starr International Co. (SICO), which holds hundreds of millions of AIG shares. It's the ownership of those shares that are in dispute.

Thursday, March 19, 2009

Geithner Admits His AIG Lie, Where is Obama Admitting His?

This blog reported over a week ago that both Obama and Geithner were lying, stated they KNEW ABOUT THE AIG BONUS MONEY being paid out despite news reports to the contrary...well today Geithner admitted that he knew, and that he was the one who got Senator Dodd to make the changes in the Stimulus Bill. In short, Treasury Secretary has VIOLATED HIS OATH OF OFFICE, has shamed himself, his family and our nation. Here the real RUB...OBAMA is just as GUILTY! Tenure your resignations Mr. Obama and Mr. Geithner....you have shown yourselves to be morally bankrupt, show us as a nation that your promise of Change was a Propaganda Campaign meant to get you elected. More importantly, WHERE IS THE PRESS, WHERE IS CNN IN CALLING THE PRESIDENT ON HIS OWN LIES? What is it CNN...are you a NEWS CHANNEL,or a PROPAGANDA MACHINE FOR America's FIRST BLACK PRESIDENT.

Geithner defends bonus action

Treasury Secretary explains his role in stimulus bill talks. At issue: Loophole that allowed $165 million in bonuses to go to AIG executives.

ROAD TO RESCUE

Tracking the bailout

Economy rescue: Adding up the dollars

The government is engaged in an unprecedented - and expensive - effort to rescue the economy. Here are all the elements of the bailouts.

View chart

NEW YORK (CNNMoney.com) -- Treasury Secretary Tim Geithner told CNN Thursday that his department, concerned that language about bonuses would not hold up to a court challenge, asked Sen. Chris Dodd to include an executive pay provision in the stimulus bill. The loophole allowed bailed-out insurance giant American International Group to pay out $165 million in bonuses.

In an interview with CNN's Ali Velshi, Geithner said the Treasury Department was concerned the government would face lawsuits if contracts were breached for the bonuses.

Wednesday, March 18, 2009

AIG Is Maurice "Hank" Greenberg is AIG is Starr...Where Is TRUTH Mr. Obama?

I am not a learned man...least ways, not in the traditional pedigreed sense that Mr. Geithner and President Obama are. I can though grab onto a piece of string and start pulling on it to see where it leads. I've spent much of last night pulling on the AIG Bonus Scandal string, and it seems clear that AIG, Maurice "Hank" Greenberg, and Starr International lay at the epi center of EVERYTHING that has crashed our economy, EVERYTHING that is the $180 Billion Dollar bailout. We know that ELEVEN key AIG employees that are no longer with the company got huge bonus money. The first question that Congress should be asking Mr. Liddy...who are those employees by name, how much did they each get, and where (or who) are they working now.

Being a betting man, I am going to guess that the answer to the work question is directly or indirectly those AIG employees are working for ne Maurice "Hank" Greensberg, or one of his (or his family's) holdings.

Second question that Congress should be asking...just how many of AIG's shares does Maurice "Hank" Greensberg own and/or control. Follow that one up with the question, how many of AIG's assets are being privately sold to Maurice "Hank Greensberg (or his various holdings) at bargain basement prices.

AIG filing allows "going private"
American International Group, Inc. filed an amendment today with the SEC that may allow a "going private" transaction and allows former AIG chairman Maurice Greenberg to protect his shares. AIG filed Schedule 13D that allows CV Starr, who has retained Perella Weinberg Partners LP, to advise "Reporting Persons" on a myriad of financial options. Besides the "going private" transaction other options include "acquisitions of assets from" AIG, loans, further investments in AIG, seeking board of directors, exploring a "merger, proxy solicitation, tender offer, exchange offer or otherwise", and considering strategic plan items.
The filing further states that CV Starr may engage in discussions or cooperate with management, the board of directors and other AIG shareholders, and or other relevant third parties.
The filing also allows Reporting Persons to sell or transfer common shares, enter into "public or private transactions" and use privately negotiated derivative transactions, and stock options to hedge the market risk of their stock positions.
These actions are subject to appropriate laws including state insurance regulatory laws.
The entities listed as signing the form include, Maurice R. Greenberg, Edward E. Matthews, Starr International Company, C.V. Starr & CO. Inc., Universal Foundation, Inc., The Maurice R. and Corinne P. Greenberg Family Foundation, Inc., Maurice R. and Corinne P. Greenberg Joint Tenancy Company, LLC, and C.V. Starr & Co., Inc. Trust.
http://www.sec.gov/Archives/edgar/data/5272/000135982408000022/schedule13da.htm

It is further suggested, that the FED, SEC and the FBI starting taking a serious look at the incestuous web that is Maurice "Hank" Greensberg and his associated who are through various means wresting back control of AIG, and gaining most of its assets through various means and maneuverings. Keep in mind here, that Mr. Greenberg was the CEO of AIG for some 40 years. Keep in mind that even after he was FORCED OUT, he controlled a major portion of the company. Now we are supposed to find it just convenient that he has started a NEW VENTURE offering the same services as AIG, registering it in Bermuda for tax purposes, but racing to establish a AIG twin presense throughout the world. Where is Congress, Geither, even Obama in asking why it is that ALMOST ALL KEY AIG employees are suddenly working for Mr. Greensberg's new business venture in various LEADING CAPACITIES.

You want RAGE AMERICA...the very people that RAPED YOU AT AIG are not suffering, but instead are setting up shop in a NEW SHELL! Isn't it odd that the one man that was CHASED OFF, run out of AIG on a rail as it were by now DISGRACED Elliot Spitzer is slowly taking back what he feels is his?

On March 15, 2005, AIG's board forced Greenberg to resign from his post as Chairman and CEO under the shadow of criticism from Eliot Spitzer, attorney general of the state of New York. On May 26, 2005, as part of a series of actions against leaders of large corporations, Spitzer filed a complaint against Greenberg, AIG, and Howard I. Smith (ex-CFO of AIG) alleging fraudulent business practice, securities fraud, common law fraud, and other violations of insurance and securities laws. Greenberg's public statements show that he found the Spitzer investigation to be very troubling. He maintained his innocence throughout the investigation, and alluded to the possibility that Eliot Spitzer might be conducting a high-profile witch-hunt in the interests of furthering his political ambitions. (In hind sight, did Greensberg carry out his OWN WITCH HUNT ON Elliot Spitzer?)

For those that like balls of yarn, lets start pulling at string. I would suggest we start with the following Maurice "Hank" Greensberg financial vehicles...maybe we can get Obama to investigate the Bermuda Connection.

Edward E. Matthews” has been a Group Member with the following 16 Group Members:
C V Starr & Co Inc
C/V/Starr & Co/Inc/Trust
C/V/Starr &Amp; Co/Inc
C/V/Starr &Amp; Co/Inc/Trust
Maurice R & Corinne P Greenberg Family Foundation Inc
Maurice R. Greenberg
Maurice R/and Corinne P/Greenberg Joint Tenancy Co/LLC
Maurice R/and Corinne P/Greenberg Joint Tenancy Company/L
Maurice R/and Corinne P/Greenberg Jt/TEN/CO/LLC
Starr International Co/Inc
Starr International Company Inc
The Marice R/and Corinne P/Greenberg Foundation/Inc
The Maurice R and Corinne P Greenberg Family Foundation Inc
The Maurice R/and Corinne P/Greenberg Fam/Found/Inc
The Maurice R/and Corinne P/Greenberg Family Foundation/I
Universal Foundation Inc

Quite the framework for hiding and moving assets around, and JUST HOW POWERFUL is this Maurice "Hank" Greensberg? If you do a GOOGLE search, you realize that Maurice "Hank" Greensberg is a very powerful man that does not like to be triffled with...more importantly, he has a lot of friends and connections in very high places.

He is currently chairman and CEO of C.V. Starr and Company, a diversified financial services firm that is named for the founder of AIG, Cornelius Vander Starr.
US Army, University of Miami and New York Law School
Greenberg served in the U. S. Army in Europe during World War II, participating in the Liberation of Dachau and in the Korean conflict, rising to the rank of Captain; he is a recipient of the Bronze Star. He received his Bachelor's Degree in pre-law from the University of Miami and his law degree from New York Law School in 1950. He was admitted to the New York Bar in 1953. He holds honorary degrees from several colleges including Brown University, Middlebury College and New York Law School.
Rise and fall at AIG
In 1962, Greenberg was named by AIG's founder, Cornelius Vander Starr, as the head of AIG's failing North American holdings. In 1968, Starr picked Greenberg as his successor. Greenberg held the position until 2005, when he stepped down amid a major accounting scandal and was replaced by Martin J. Sullivan.
Greenberg was both a social friend and client of Henry Kissinger, utilising his consultancy, Kissinger Associates, for advice and operations in a number of countries, particularly in Asia. In 1987 he appointed Kissinger as chairman of AIG's International Advisory Board.
He is married and has four children. He is the father of Jeffrey W. Greenberg, former chairman and CEO of Marsh & McLennan Companies (MMC) before he was ousted, and of Evan G. Greenberg, president and CEO of ACE Limited. Together, he and his sons controlled a major portion of the insurance industry.
Other public positions
Mr. Greenberg is Honorary Vice Chairman and Director of the Council on Foreign Relations and a member of David Rockefeller's Trilateral Commission. In the 1980s, his extensive foreign connections prompted the Reagan administration to offer him a job as Deputy Director of the CIA, which he declined.
He was appointed as a member of the Hong Kong Chief Executive's Council of International Advisers in the years of 1998-2005[1].
He was awarded "CEO of the Year 2003" by Chief Executive Magazine. .
He is a former Chairman and currently a Trustee of the Asia Society, Trustee Emeritus of the Rockefeller University, and is an honorary Trustee of the Museum of Modern Art, all three institutions founded by the Rockefeller family.
He is also a former Chairman and current member of the US–Korea Business Council, a member of the US–China Business Council, and the Business Council. He has served on the Board of Directors of the New York Stock Exchange, the President’s Advisory Committee for Trade Policy and Negotiations, and the Business Roundtable. He is a past Chairman, Deputy Chairman and Director of the Federal Reserve Bank of New York.
Mr. Greenberg is Chairman Emeritus of New York-Presbyterian Hospital and the New York-Presbyterian Hospital Foundation, Inc. He serves as a member of the Board of Overseers of the Weill Medical School of Cornell University, Life Trustee of New York University, Trustee for the School of Risk Management, Insurance, and Actuarial Science and is Chairman of the Academic Medicine Development Company (AMDeC). He is on the Board of Directors of the International Rescue Committee and is active in a number of other civic and charitable organizations. He was a former Trustee of the American Museum of Natural History.
As Chairman of The Starr Foundation, Greenberg oversees the disbursement of major financial support to academic, medical, cultural, and public policy institutions.

Exec	Maurice Greenberg [VCard]	Chairman/CEO	Not Available	212-230-5050 ceo@cvstarr.com
	Edward Matthews [VCard]	President	Not Available	212-230-5050 president@cvstarr.com
	Bertil Lundqvist [VCard]	EVP	Not Available	212-230-5050 evp@cvstarr.com
	Lawrence Greenberg [VCard]	EVP	Not Available	212-230-5050 evp@cvstarr.com

Chairman & CEO - Maurice R. Greenberg
President - Edward E. Matthews
Vice Chairman - Finance and Secretary - Howard I. Smith
General Counsel & Executive Vice President - Bertil Lundqvist
Executive Vice President - Lawrence Scott Greenberg

Contact: CV Starr & Co INC. 399 Park Ave NY (212) 230-5050

CONTACTStarr Aviation Agency, Inc.

3353 Peachtree Road N.E

Suite 1000

Atlanta, GA 30326

USA

Ph : (404) 946-1400

Fax : (404) 946-1495

WEST

Starr Aviation Agency, Inc.

17550 North Perimeter Drive

Suite 340

Scottsdale, AZ 85255

USA

Ph : (480) 586-3600

Fax : (480) 586-3659

LONDON

Starr Underwriting Agencies Limited

140 Leadenhall Street

3rd Floor

London, EC3 V4QT

United Kingdom

Ph : 44 (0) 20 7337 3550

Fax : 44 (0) 20 7337 3551

Former AIG CEO Greenberg, Ironshore in Joint Excess Casualty Venture

January 26, 2009

Maurice "Hank" Greenberg, the man who ran American International Group for nearly 40 years and who now runs C.V. Starr & Co., is being reunited with some executives who used to work under him when he ran AIG.

C.V. Starr is teaming up with Bermuda-based Ironshore Inc. to form a new excess insurance agency. The new agency will be known as Iron-Starr Excess Agency Limited. Iron-Starr Excess will act as a specialty lines insurance and reinsurance managing general agency, domiciled in Bermuda.

The new agency will write catastrophic excess casualty insurance products, targeting Fortune 2000 and other clients purchasing cat excess coverages. Policy limits up to $75 million will be issued.

"This partnership enables Ironshore to enter the excess casualty market with additional backing and support to offer larger limits, consistent with the needs of our clients," said Kevin Kelley, Ironshore's new CEO and former CEO of AIG's giant surplus lines insurer, Lexington Insurance, who served under Greenberg.

"We look forward

Comprehensive Insurance Solutions and Services

A C.V. Starr & Co., Inc. company with Asian roots and commitment

Financial Strength
Specialty Underwriting
Risk Management Services
Global Reach

C. V. Starr & Co., Inc. (C.V. Starr) is a privately-held company with insurance agencies and a portfolio of global investments. Through its insurance agencies, C. V. Starr historically has produced approximately $2 billion annually of comprehensive insurance coverage among several specialty lines covering aviation, marine, excess casualtfy and property, and excess stop loss insurance for employer-sponsored benefit plans.

C. V. Starr's deep familiarity with the business of insurance and global investing sets the company apart in its industry. C. V. Starr's hallmark is its significant presence in global markets, backed by the company's international expertise.

Starr Underwriting Agents (Asia) Limited underwrites specialty insurance lines on behalf of Lloyd's of London syndicates CVS 1919, BRM 1861 and FRC 2243 through Starr Managing Agencies Limited (SMAL), all highly rated Lloyd's Syndicates.

Our current product offerings include Property Technical Risks and Marine coverages and services for the Asia Pacific Region.

Our policies are supported by value-added services in Engineering and Loss Control.

Through its relationship with Lloyd's, Starr can offer reinsurance in the Chinese market through the Starr Underwriting Division of Lloyd's Reinsurance Company (China) Limited.

WELCOME TO STARR UNDERWRITING AGENTS LIMITED

Starr Underwriting Agents Limited (SUAL) is a subsidiary of C. V. STARR & CO., INC. and has a long established trading record with high brand recognition in the insurance sector. For many years the various Starr underwriting agencies have been the recognized leaders in North America.

SUAL currently underwrites business on behalf of Lloyd’s syndicates CVS 1919, FRC 2243 and BRM 1861 through Starr Managing Agents Limited (SMAL), a Lloyd’s Managing Agent established in 2008. The business of syndicates CVS 1919 and FRC 2243 will be exclusively and entirely underwritten under a limited number of binding authority arrangements. Syndicate BRM 1861 is the Marlborough Underwriting Agents syndicate that provides capacity to some of the agency brands of SUAL.

HOW NICE!

By Lilla Zuill

NEW YORK (Reuters) - Maurice "Hank" Greenberg, former CEO of American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz), said he would consider buying AIG's Asian life insurance operations if the firm were to put this flagship business on the market.

AIG, once the world's biggest insurer by market value, is readying to sell off parts of its business after it was hit by massive mortgage losses.

The company wants to partner with an outside investor, allowing it to keep a stake in the Asian life business, known as American International Assurance Co Ltd (AIA).

Based in Atlanta, GA, Starr Adjustment Services, Inc. is the claims adjusting and risk management service arm of C. V. Starr's insurance underwriting facilities. This seasoned group of claims and safety professionals is skilled at providing the highest level of service in the industry. Our approach centers on a client-based focus, with every effort made to handle each claim or safety request with the utmost attention paid to the needs of the insured. We provide direct claims service for Starr Aviation Agency, Inc., Starr Indemnity & Liability Co. and Starr Indemnity & Reinsurance Ltd. We also currently provide independent claims and risk management services to agencies, brokers, and insurers outside of the C. V. Starr group of companies. If you would like to learn more about Starr Adjustment Services, please feel free to contact us at (404) 946-1400.

AMERICAN INTERNATIONAL GROUP INC (BOLLENBACH STEPHEN F)	4	10/02/2008
AMERICAN INTERNATIONAL GROUP INC (TSE EDMUND S W)	4	10/02/2008
AMERICAN INTERNATIONAL GROUP INC (MARTIN RODNEY O JR)	4	10/02/2008
AMERICAN INTERNATIONAL GROUP INC (FRENKEL JACOB A)	4	10/02/2008
AMERICAN INTERNATIONAL GROUP INC (WINTROB JAY S)	4	10/02/2008
AMERICAN INTERNATIONAL GROUP INC (BENSINGER STEVEN J)	4	10/02/2008
AMERICAN INTERNATIONAL GROUP INC (NEUGER WIN J)	4	10/02/2008
AMERICAN INTERNATIONAL GROUP INC (KELLY ANASTASI D)	4	10/02/2008
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AMERICAN INTERNATIONAL GROUP INC (LEWIS ROBERT EDWARD)	4	10/01/2008
AMERICAN INTERNATIONAL GROUP INC (WALSH NICHOLAS C)	4	10/01/2008
AMERICAN INTERNATIONAL GROUP INC (DOOLEY WILLIAM N)	4	10/01/2008
AMERICAN INTERNATIONAL GROUP INC (MAURICE R. & CORINNE P. GREENBERG JOINT TENANCY COMPANY, LLC)	3	10/01/2008
AMERICAN INTERNATIONAL GROUP INC (STARR INTERNATIONAL CO INC)	3	09/30/2008
AMERICAN INTERNATIONAL GROUP INC (MATTHEWS EDWARDS E)	3	09/30/2008
AMERICAN INTERNATIONAL GROUP INC (C.V. STARR & CO., INC. TRUST)	3	09/30/2008
AMERICAN INTERNATIONAL GROUP INC (C V STARR & CO INC)	3	09/30/2008
AMERICAN INTERNATIONAL GROUP INC (UNIVERSAL FOUNDATION INC)	3	09/30/2008
AMERICAN INTERNATIONAL GROUP INC (GREENBERG MAURICE R)	3	09/30/2008
AMERICAN INTERNATIONAL GROUP INC (GREENBERG MAURICE R)	SC 13D/A	09/30/2008

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