AIG chief hits at regulatory environment

I am happy to see that Mr. Greenberg, of AIG, agrees that improvements need to be made in the way that companies have behaved and in the practices they have followed.

Unfortunately, as he is complaining only after these issues have been brought to light by others, it is clear that the self-regulatory system has not been working, and it is clear that his complaints have less effect.

If companies want to have the trust of the regulators and of society under self-regulation or light regulation, they need to ensure that their activities are clean. Cleaning house voluntarily is a good way to show how serious they are!

OAM

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AIG chief hits at regulatory environment