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Greenberg tells it like it is
09 June 2010
In a keynote speech at the IIS Seminar yesterday, Hank Greenberg gave his frank opinions on regulation, his former firm American International Group (AIG) and his outlook for the global insurance market.
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IIS Seminar
Hank Greenberg
AIG
American International Group
Dodd bill
CV Starr
In a keynote speech at the IIS Seminar yesterday, Hank Greenberg gave his frank opinions on regulation, his former firm American International Group (AIG) and his outlook for the global insurance market.
Greenberg expressed his concerns that the industry was going to be saddled with excessively onerous regulation, especially in the US. President Obama expects to have a financial services reform bill on his desk to sign by July 4. But Greenberg says the bill in its present form is extremely confusing.
“I have spent a better part of the weekend reading the Dodd bill,” he told delegates. “I went to law school, admittedly many years ago, but I can’t make head or tail of it. We will have more regulators than you can count, maybe more than people in this room, all competing. It is very unclear.”
Greenberg says it does not make sense to pass financial...
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