Tuesday, September 16, 2008

But why AIG and not Lehman’s?

Greenberg-Led AIG Investors Consider Taking Control

The "Big Boys" have really been caught with their pants down. American International Group Inc. investors led by former Chief Executive Officer Maurice ``Hank'' Greenberg may consider taking control of the insurer through a proxy fight or buyout. The investors also are considering acquiring New York-based AIG's subsidiaries or making loans to the company. They disclosed their options today in a regulatory filing. Greenberg may be seeking to rescue the insurer that is struggling to raise cash amid losses tied to U.S. mortgages and credit downgrades. Greenberg, who was ousted in 2005 amid a regulatory probe into accounting, controls about 11 percent of the company through personal holdings and companies he heads.

Posted by stevie dee @ 06:48 PM (681 views)
Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>