he is the largest shareholder (was), until the gov took 79.9% stake.
He concedes the following:
1) he says there were better ways to go about preventing the collapse of AIG
2) shareholders are f*d
3. they are selling the various parts of the company, and there will be no more AIG
It is NOT a deal where AIG will try to work itself out of trouble; that will never be possible, because all the thousands of parts that make up AIG will be sold off under the plan, and that will start soon., and continue until the company is dismantLed.
ALL THE MONEY GOES TO THE GOVERNMENT -- NOT TO SHAREHOLDERS. It is just like a conservatorship, but not in name.