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AIG Adds Another Loss To Its Belt

In yet another swift victory for justice and credibility in the US legal system, former AIG chairman Hank Greenberg, accused of running off with $4.3 billion in AIG stock which was supposed to be used for executive retirement accounts, got a free pass from a federal jury today. The jury was evidently not swayed with minor appearances of impropriety such as Greenberg flying stock certificates to Bermuda in private jet to deposit them in an off-shore account. Should Fed. District Judge Jed S. Rakoff not introduce a shred of decency into this process and reverse the jury's decision in his final ruling, the Hank Greenberg GFY AIG party will go on as scheduled on a pink sand beach later this summer.
Jury Finds Against A.I.G. in Greenberg Case [NYT]