Hank Greenberg Tells WSJ Goldman Sachs Behind AIG’s Collapse

Jan. 9 (Bloomberg) -- Hank Greenberg, former chief executive officer at American International Group Inc., said Goldman Sachs Group Inc. is responsible for the collapse of the insurer during the economic crisis, the Wall Street Journal reported yesterday.

“It certainly wouldn’t be difficult to come to that conclusion,” Greenberg is quoted as telling the newspaper.

Greenberg blamed new standards for credit-default swaps - -pushed by Goldman or Deutsche Bank AG, he said -- and subprime, housing-backed derivatives sold and then shorted by Goldman as contributing to AIG’s collapse, the newspaper reported.

“Mr. Greenberg appears to base his views on news reports rather than facts,” Lucas van Praag, a Goldman spokesman, said in an e-mail to Bloomberg News. “It is interesting that he doesn’t mention the devastating conclusions about AIG reached by the company’s own auditors.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aMZNMYvwnorI&pos=2

The danger of dealing with Goldman Sachs.

 

If he was in charge to this day, the same events would still happen. So moral of the story is, goldman want goldman gets.

 

His own stupidity and ignorance had nothing to do with "it". What a pinhead.

 

I'll tell ya Nazzdack. you crack me up.

You come up with these spot on one liners.....

(zzzzzz hey let's ask Hank what he thinks months later.....)

Hankl: Uhmmnnn. I got it "Blame Goldman". We certainly can't "Blame Bush" anymore (or me for that matter).

 

Some people just forgot that the market is just a giant poker table. Players are out to get your money and every financial transaction is bet.

 

It's more "dignified" if you say that speculative markets have winners and losers.

 

Greenberg will blame Warren Buffett for not buying the company before the "mess" started.

 

I thought, AIG would have disappeared in one of Goldman's distressed "OPPORTUNITY" funds...