Executive Compensation

Is this story going to come as a surprise to you?

"NEW YORK – The former top executive of American International Group Inc. plundered an AIG retirement program of billions of dollars because he was angry at being forced out of the company, a lawyer for AIG told jurors Monday at the start of a civil trial."

He, of course, claims he had a perfect right to the several billion dollars he looted from the company on the way out the door.

That's the CEO's view of how things work.

"Greenberg, 84, has contended through his lawyers that he had the right to sell the shares..."

Yeah, but did you have the right to keep the proceeds for yourself?

Is it any wonder, by the way, that our "CEO president" (remember how they told us that was a good thing?) left the country broke, right about the time he took off for Crawford?

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