• 30 Sep 2010 at 5:41 PM

Hank Greenberg Loves The Treasury’s AIG Exit Plan

No, just messing. He thinks it sucks, big time.

“I think that’s disgraceful to say they don’t want me or shareholders to make money,” Greenberg told Deal Journal about the Treasury’s reported efforts to carefully select the price of converting its $49 billion in AIG preferred shares into what will be a 92% stake in AIG’s common stock. “It sounds like the old Soviet Union,” Greenberg said in another interview today. “When the government starts deciding who should make a profit and who should not, if you invested in a company, what kind of a message does that send?…I think it’s going to take years, maybe a decade or more, for [the government] to sell down over 90% of the company…I’m not going to spend even a nickel to buy any more shares with the government owning so much stock.” [Deal Journal]

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Comments (42)

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  4. Posted by Asgasd | October 1, 2010 at 2:08 AM

    i think the message is don’t invest in shit companies

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    Why would Hank buy more shares? Doesn’t he own enough worthless paper?

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