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American International Group, Inc. Message Board

  • interactiveMedia interactiveMedia Oct 28, 2004 1:44 PM Flag

    What can Spitzer Charge AIG With?

    Just read the Biz Week article. Here is a little exerpt:
    SPREADING NET. According to sources, the two most likely targets of investigation are Chicago-based Aon Corp. (AOC ) and the New York office of Britain-based Willis Group Holdings Ltd., the industry's next two largest players. Willis and Aon say they have been cooperating fully with Spitzer's probe.

    After that, Spitzer wants to take on property-casualty insurers. A spokesman says four companies named in Spitzer's complaint against Marsh as participants in bid-rigging -- American International Group (AIG ), ACE (ACE ), Hartford Financial Services Group (HIG ), and Munich-American RiskPartners -- may be named as defendants, though it's unclear at this point what the charges would be.

    Remember that last line. "IT'S NOT CLEAR WHAT THE CHARGES WOULD BE".

    How can a company be in trouble when no one seems to know what to charge them with. M&M and AON and Willis breached their fiduciary responsibilities to their clients. AIG has no fiduciary responsibility to its brokers' clients.

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