Tuesday, November 10, 2009

And more insurance news: Misgivings among some Democrats over health reform bills, and AIG's CEO in better days lambastes his successors

A couple more key insurance stories today:

The New York Times' Sheryl Gay Stolberg reports that "the White House is facing a growing revolt from some Democrats and analysts who say the bills Congress is considering do not fulfill President Obama's promise to slow the runaway rise in health care spending."

And Business Week has a pretty interesting Q&A with former AIG CEO Hank Greenberg. It's always easy after a corporate meltdown, of course, to be the guy saying that you would have done things differently. But Greenberg, who left the company under pressure back in 2005, really takes up the cudgel:
I know for a fact that [Martin] Sullivan told everybody: "Just do everything you want, get as much business as you can, and don't worry about a goddam thing." Everything they did disregarded risk management. That's not the way you run a company. And the board sat on its tail. Frank Zarb did nothing. He was the goddam chairman. What did he do?

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