"American business is facing yet another major scandal involving more accounting shenanigans.

But, this scandal has the potential to cause tsunami-sized damage: It involves a highly respected insurance company, American International Group (http://www.csmonitor.com/2005/0401/p03s01-usju.html) (AIG) - which is part of the Dow Jones Industrial Average - which has now admitted to $1.7 billion in improper accounting. And, it has enveloped some legends in the financial arena: Maurice "Hank" Greenberg, forced out as chairman of AIG, and Warren Buffet, the Omaha stock market guru, who will be questioned about his possible involvement.

Greenberg is well-known in Washington where he known for raising large amounts of money. Greenberg was one of the President Bush's "Rangers" which means he personally raked in more than $200,000 for the reelection campaign. At the same time, he is also known for his access to members of the cabinet and Congress. This access has paid-off as the administration has often supported Greenberg on a number of issues ranging from access to China to terrorism insurance."

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I guess this is another result of alllllllll those frivilous-lawsuits!! (http://www.consumerwatchdog.org/insurance/nw/nw002916.php3) :rolleyes:

ya, more lawsuits is what we need to keep this from happening. whatever happend to your trash forum shaman?

Buffet is a constant critic of President Bush, and Greenburg is being represented by Gore's former attorney, David Boies.

Yeah, Bush is at it again.

Originally posted by Brooks
Buffet is a constant critic of President Bush, and Greenburg is being represented by Gore's former attorney, David Boies.

Yeah, Bush is at it again.
Ya' heard about that (http://the-spark.net/newspaper/i735/2f02.html), huh??

Yeah........besides (ever) growing premium-increases, those poor insurance-companies surely do appreciate added federal-subsidies, from Lil' Dumbya's smaller, leaner federal-government! :rolleyes: