As you're aware, Hank Greenberg continued his "wasn't me" press tour today with a stop on Capitol Hill, telling Congressmen that none of this shit was his fault, and that it wasn't the lack of regulation that fucked AIG, it was post-Big G management. The insurer, apparently having enough, told G-berg to shut it, old man (via spokesperson), this afternoon.
AIG, in a series of statements issued throughout the hearing, denied Greenberg's claim that the financial products unit was ramped up only after he left.
"This business ballooned under his watch," said Mark Herr, an AIG spokesman.
Herr said CDS transactions were being produced at a faster pace during Greenberg's last months at AIG than at any other period the unit was writing the contracts.
Greenberg also shot down the suggestion that he pass out 1 and 5 dollar denominations of his money to taxpayers on the street.