Hank Greenberg

In the settlement of a lawsuit that predates the financial meltdown, AIG has agreed to pay shareholders $725 million for years of fraudulent practices that led to investors loosing money on the stock. But they only get $175 million up front. The rest, they may wind up getting in shares of AIG.

Hank Greenberg was the CEO of AIG (AIG) for 1968 to 2005, building the firm into the largest insurance company in the world. After being pushed out as an accounting scandal rocked the company, he has engaged in legal battles with his former company and the government until recently.

Maurice R. "Hank" Greenberg did not start AIG (AIG), but he might as well have. Greenberg took over as head of the insurance company in 1968, the only CEO other than its founder C.V. Starr. Greenberg turned AIG into the largest insurance firm in the world. In 2005 he left during an accounting...

The American International Group (AIG) of today has no value to its long-term shareholders, according to Maurice R. "Hank" Greenberg, the insurer's former longtime chairman and chief executive. After all, the government owns nearly 80 percent of it. "Who's going to invest in a company that is 80...

There is no reason under heaven that AIG (AIG) should be up from $33 on Wednesday to over $50 today. At least it has sold off a bit in the afternoon. AIG's new CEO Robert Benmosche told Reuters that he is being put upon by the press for being paid $7 million and having a huge villa in Croatia where...

Former American International Group (AIG) CEO Hank Greenberg will pay $15 million to settle fraud charges filed by the Securities and Exchange Commission, The Wall Street Journal is reporting. The charges stem from an accounting scandal that led to Greenberg's resignation in 2005. The next year,...

You may remember American International Group (AIG). The U.S. government gave it $182 billion of taxpayer money last fall in exchange for a 78 percent stake. Of that money, $165 million went for bonuses to a handful of people in its Financial Products Group (FPG), which sold Credit Default Swaps...

Who gets blamed for the failure of AIG (AIG)? How far back does the responsibility go? One year? Five? Ten? Is Sandy Weill to blame for Citigroup's (C) downfall? He created the company. Maybe it was so big that it could not be properly managed at the start. Maybe Sandy should be blamed. He also...

Remember when a million dollars was a lot of money? Maybe, like me, you dreamed of growing up, becoming a millionaire, and living a life of ease. Of course, I always stretched out the syllables and imagined that my "Meeeeeelion" dollars would land me a place "above the law." Now I just dream of...