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About The AIG Story
Product Description The AIG Story first chronicles the origins of the company and its relentless pioneering of open markets everywhere in the world from 1970 to 2005. It then explores how the company faltered after it adopted a one-size-fits-all corporate governance structure that turned the company upside down and put it at the center of the 2008 financial crisis where the authorities seized upon it as both scapegoat and solution to the crisis. Produced based on a combination of co-author Hank Greenberg's personal involvement and the craftsmanship and objective writing of Professor Lawrence Cunningham, this book: Corrects common misconceptions about AIG that arose due to its role at the center of the financial crisis of 2008. Portrays one of the iconic businesses of the twentieth century which developed close relationships with many of the most important world leaders of the period and helped to open markets everywhere. Opens new critical perspective on battles with N. Y. Attorney General Eliot Spitzer and the 2008 U.S. government seizure of AIG amid the financial crisis. Shares confidential information publicly for the first time. The AIG Story captures an impressive saga in business history--one of innovation, vision and leadership at a company that was almost destroyed with a few strokes of governmental pens. The AIG Story carries important lessons and implications for the U.S., especially its role in international affairs, its approach to business, its legal system and its handling of financial crises. Review "Captivating. If you think you know AIG, you don't know the half of it without knowing its history. Greenberg and Cunningham splendidly lay out the trials, setbacks and successes of this enormous insurance giant. It's a fun, engrossing read -- and if you're an AIG investor, you're crazy not to put your hands on a copy." Robert Weinstein, The Street / MSN Money "Great book. For as much rightful anger and disrespect the letters 'AIG' elicit, this book actually changed my view of the insurance giant. Greenberg and Cunningham detail who they blame for the company's downfall. Don't pretend you don't want to hear the rest of that story." The Motley Fool "A fascinating company history and account of how, after Greenberg's ouster in 2005, AIG made disastrous mortgage bets that drove it into the arms of the feds." The Wall Street Journal "Epic." The Financial Times "Strong, fast-moving and well-crafted. A remarkable story." --John R. Coyne Jr., The National Interest" A useful contribution to the ongoing shaping of the story of the recent financial crisis. The authors examine Greenberg's career building the biggest insurance company in the world. A Korean War veteran, Greenberg brought Western insurance products to the Soviet Union and Eastern Europe, helped open China to Western finance, and provided indispensable, sometimes covert, services to the U.S. government." Kirkus Reviews "The AIG Story is well documented, telling of how the company virtually collapsed [after] Greenberg was pushed out of leadership. The book has much information to share with financial leaders to help grow a business and to protect a company during periods of economic downturns. The narrative is written in a style that is understandable." William Taylor, ABA Banking Journal From the Author ABOUT THE AUTHORS Hank Greenberg: Chairman and CEO of C.V. Starr & Co., which he joined as vice president in 1960, becoming a director in 1965 and Chairman and CEO in 1968. From 1967 until 2005, he was CEO of American International Group, which grew during that period from a scattered collection of insurance businesses worth about $300 million to the largest insurance company in world history, worth more than $180 billion. After he left AIG, the company's new leadership embarked on a radical transformation that put the company at the heart of the 2008 financial crisis and nearly destroyed it. He has been among the most active and infl
