What Will Happen to Hank Greenberg?
Mr. Greenberg, long-time leader of AIG and an insurance industry giant, is in deep trouble. He has lost his job and Elliott Spitzer has filed a civil suit against him. (Read the Spitzer complaint here. The SEC has him in its sights. Can a grand jury be far behind?
One lesson to be learned here comes from a lawyer friend in New Orleans. I went to the Big Easy several years ago to give a speech. The Jazz Festival was going on at the same time and my friend invited me to spend the day with a group of his friends. He said his gathering would be easy to find among the throngs of people - just look for a flag pole with a stuffed monkey posted at the top. I found it - and asked him "What is the deal with the flag pole and the monkey?" He said, "I use it to show my friends and remind myself that the higher a monkey goes up the flag pole the more his *%& shows."
Think I'm wrong? I bet Martha Stewart doesn't.