Maurice R. Greenberg
Maurice R. "Hank" Greenberg, "ranked 132 in the world and 59th in the US with assets of $3.1 billion," was forced out as Chairman of top insurance company American International Group (AIG)" after the company "admitted to $1.7 billion in improper accounting." In Spring 2005, "two of Greenberg's sons, both executives in the insurance business, have also been tarnished by scandal." [1]
Contents
Bush Connection
"Greenberg is well-known in Washington where he known for raising large amounts of money. Greenberg was one of the President Bush's 'Rangers' which means he personally raked in more than $200,000 for the reelection campaign. At the same time, he is also known for his access to members of the cabinet and Congress. This access has paid-off as the administration has often supported Greenberg on a number of issues ranging from access to China to terrorism insurance," Ron Scherer reported in the April 1, 2005, Christian Science Monitor.
Affiliations
- Chairman, Nixon Center
- "Greenberg and AIG have further expanded their reach through the use of the $5 billion Starr Foundation, named after the founder of the company Cornelius Vander Starr. It supports influential groups such as the Council on Foreign Relations and the National Chamber Foundation, associated with the US Chamber of Commerce," Sherer wrote.
- Patron of the American Australian Association
- Director, Business Executives for National Security
- Director, Foreign Policy Association (in 2001/02 at least)
- Director, Japan Society
- Director, US China Business Council [2]
- Director, World Trade Center Memorial Foundation
- Board of Overseers, International Rescue Committee
- Member, National Coalition on Asia and International Education in the Schools [3]
- Emeriti Trustee, Rockefeller University [4]
- Life Trustee, New York University [5]
- International Advisory Board, International Economic Alliance [6]
- Honorary Trustee, Museum of Modern Art [7]
Resources and articles
Related Sourcewatch
References
- ↑ Ron Scherer A top insurance company as the new Enron?, Christian Science Monitor, April 1, 2005
- ↑ US China Business Council Board, organizational web page, accessed November 20, 2013.
- ↑ Overview, National Coalition on Asia and International Education in the Schools, accessed December 24, 2007.
- ↑ Trustees, Rockefeller University, accessed December 28, 2007.
- ↑ Trustees, New York University, accessed June 16, 2010.
- ↑ Advisory Boards, International Economic Alliance, accessed January 15, 2008.
- ↑ Trustees, Museum of Modern Art, accessed September 16, 2009.
"AIG Two"
The New York Times reported in October 2009 that Greenberg "has been quietly building up a family of insurance companies that could compete with A.I.G. To fill the ranks of his venture, C.V. Starr & Company, he has been hiring some people he once employed."[1] "'Basically, he’s just starting "A.I.G. Two" and raiding people out of "A.I.G. One," ' said Douglas A. Love, an insurance executive who has also hired A.I.G. talent for his company, Investors Guaranty Fund of Pembroke, Bermuda."[1]
The Times reported speculation that "Greenberg's success may be at the expense of taxpayers. People who work in the industry say that if he is already luring A.I.G.'s people, he may soon be siphoning off its business and, therefore, its means to repay its debt to the government."[1]
Resources and articles
Related Sourcewatch
References
- ↑ 1.0 1.1 1.2 Mary Williams Walsh, "Ex-A.I.G. Chief Is Back, Luring Talent From Rescued Firm," New York Times, October 27, 2009, at A1.
External links
- Ron Scherer, "A top insurance company as the new Enron? An accounting probe at AIG worries Wall Street, and involves some of America's richest men," Christian Science Monitor, April 1, 2005.
- Gretchen Morgenson, "A.I.G.: Whiter Shade Of Enron" (abstract), New York Times, April 3, 2005.
- Kurt Eichenwald and Jenny Anderson, "How a Titan of Insurance Ran Afoul of the Government" (abstract), New York Times, April 4, 2005.
