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In Other AIG News: Hank Greenberg Settles

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We know that AIG shares are down 25 percent and credit default swaps on its bonds have flown through the roof, passing the CDS price on Lehman. But the most overlooked story today will likely be the fact that Hank Greenberg, who used to run AIG, and three former executives have agreed to a $115 million settlement in a lawsuit claiming that Greenberg improperly directed commissions to an insurance company he controlled. The suit was set to go to trial on Monday.
It's a tough day for Greenberg, who owns something like 10 percent of AIG. He's lost about $1 billion today.


By Starkjames (Own work) [CC BY-SA 4.0], via Wikimedia Commons

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