Former Gen Re and AIG Executives Found Guilty on All Counts of Fraudulent Manipulation Scheme

[ShockediSay]

Source: USDOJ.gov

WASHINGTON, Feb. 25 /PRNewswire-USNewswire/ - A federal jury has found
four former General Re Corporation (Gen Re) Executives and one former
American International Group Inc. (AIG) executive guilty, following a
five-week long trial, the Justice Department announced today. The Hartford,
Conn. jury returned a verdict of guilty on all charges against all
defendants contained in a 16-count superseding indictment stemming from a
fraudulent scheme to manipulate AIG's financial statements.

Read more: http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/02-25-2008/0004762155&EDATE=

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It's the Insurance Companies, stupid

[Robbien]

1. All this was done before the current LBO/derivatives situation

It took them eight years to finally put these crooks where they belong.

Wonder how long it will be before the whole insurance cabal is behind bars for the current creative financing schemes. If ever.

[mac2]

2. If a baseball player was on their board it might go to a hearing

and court right away.

[donkeyotay]

3. Luckily Hank Greenberg and Uncle Warren Buffett, the investor next door,

weren't involved...