CORRECT: Former AIG chief says US regulations too strong

[ShockediSay]

Source: Market Watch

U.S. public companies are in trouble, in part, because of a too-stringent regulatory system, said Maurice "Hank" Greenberg, chairman and chief executive of C.V. Starr & Co. The former head of American International Group Inc. .... speaking at the Wall Street Journal Deals and Dealmakers Conference at the New York Stock Exchange on Wednesday, said that new corporate governance rules are also hampering companies by limiting the power of chief executives. Greenberg resigned in 2005 from AIG under pressure amid accusations of improper accounting and manipulation of the company's earnings.

Read more: http://www.marketwatch.com/News/Story/Story.aspx?guid=%7b61F94834-5E55-4D4C-AE82-A3157C5F03E3%7d&siteid=yhoo&dist=yhoo

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IMO:

"Moe" is lucky he's not in jail

This is kinda like some bank robber complaining
that the cost of surveillance cameras deplete the till

[L0oniX]

1. If the CEO's were not getting paid millions in bonuses...

maybe they wouldn't be in trouble. Maybe they shouldn't spend so much money to buy congress. Ya Think?
F*CK THEM DAMNED ASS CARROTS!

[Xipe Totec]

2. Bunch of whinny CEOs

can't we outsource their jobs to India?

I'm sure we can find cheaper CEOs willing to do the job, comply with the laws and still smile and say thank you!

[ellenfl]

4. i have never understood why shareholders let ceos

get away with those gigundo compensation packages. that money could be going into shareholders pockets. shareholders have the power. someone please explain it to me.

ellen fl

[NYC]

7. Shareholders don't run the company.

The managers, the people in white shirts who work at the company, make the decisions.

The president, vice president, CEO, COO are in charge.

Why don't shareholders replace them? Perhaps, it's too late. Perhaps, the ownership of the shares is too diffuse.

[ellenfl]

9. i guess it's just like the voter replacing the gummint . . .

the shareholder COULD do it. maybe 'the solid gold cadillac' should be required viewing for shareholders. ;-)

ellen fl

[pschoeb]

12. Well most shares are owned by institutional investors

Who mostly have CEOs, who make big bucks, so why would they vote against their own interests and class. Other major investors are just other major CEO's private investments, or the CEO himself might have large chunk of the stock. Boards are made up of people who are largely other CEO's of other companies, it's a kind of an incestuous, you scratch my back I'll scratch your back kind of environment. The concept of shareholders being some kind of democratic force is pretty naive, institutional investors(investment companies, insurance companies, banks etc.) own about 67.9% of total US equity, and only a very small percentage of these (about 8%) are actively involved in activist issues of corporate governance, these are mostly state pension funds.

[ellenfl]

13. wow, i didn't know that. i guess even if you could

get one or more institutions with a social conscience, you might still not be able to affect change.

what happens when the vast majority of americans can no longer afford what these companies are making?

ellen fl

[Jim Sagle]

3. Whadda buncha shit. Too much is never enough for these jagoffs.

[UpInArms]

5. maurice greenburg has been a piece of shit since the 80s

just believe me when I say.

[sandnsea]

6. Lead paint toys, poison toothpaste,

rotten catfish and seafood.

Hank Greenberg needs to be strung up by his toenails.

[soleft]

8. No one calls him "Moe" - it's "Hank"

[xchrom]

10. ''hank'' wants to legalize his reckless, corrupt and

deceptive business practices.

''hank'' can kiss my ass.

[calimary]

11. He objects to limitations on the power of chief executives???

Who the hell does he think he is? george bush?

That's what's needed MOST to curtain an out-of-control tsunami of rampaging pirates, you greedy, arrogant schmuck!!!

MAN - these "executive" types and their misplaced macho. Either we've got a bunch of guys who got wedgied on the playground all the time, or they're just continuously disappointed with what they see down there when they visit the urinal...

:eyes: