| Bob Benmosche was perfectly happy to while away his retirement on his Croatian vineyard. But the image of AIG employees being beaten up for their bonuses was just too much to bear. "I think we need a change. I believe that we need a leader that's pro-individual, that's pro-business, and recognizes that there's no free lunch anywhere. There has never been anyone in history that has proven a free lunch works." This sounds a bit odd coming from the CEO of AIG, most obviously because his company received the largest free lunch the world has ever seen, after it was revealed that its Financial Products unit had gone off the rails writing credit-default swaps--insurance--on mortgage-backed securities. When the market tanked, its parent company was left on the wrong side of billions of dollars of IOUs to major banks and hedge funds... |
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