Dave: Honestly, why stop there? AIG represents probably the most visible of the culprits, but they were, by no means, alone in this mess.
I used to work for Willis back in the day and AIG is no different than any of the players and Greenberg, as much of an asshole as he is, isn’t markedly worse than his contemporaries or confederates.
Insurance is one of the biggest scams going and once you get into reinsurance, layering and captives, to name a few, you’re dealing with what amounts to legalized theft in terms of liability shifting and doing whatever is in your power to screw the client should a loss occur.
