*** Charlie Munger: "The present era has no comparable reference in the past history of capitalism. We have a higher percentage of the intelligensia engaged in buying and selling pieces of paper and promoting trading activity than in any past era. A lot of what I see now reminds me of Sodom and Gomorrah."
"We didn't know Charlie was that old." Best Laugh of the day! Thanks.
Posted this to you weeks ago....perhaps others might want the info:
HANK GAVE WIFE $2.2B IN AIG
April 13, 2005 -- Maurice "Hank" Greenberg, ousted from American International Group Inc. amid an accounting probe, transferred $2.2 billion of AIG shares to his wife's name four days before he stepped down as chief executive last month.
The gift of 41.4 million shares represents most of Greenberg's stake in the company, according to a filing yesterday with the Securities and Exchange Commission. Greenberg made the transfer to Corinne P. Greenberg on March 11, the filing said.
Greenberg, 79, may be seeking to shield his wealth from lawsuits that may come from the accounting investigation, said former federal prosecutor Christopher Bebel. Shares of New York-based AIG, the world's largest insurer, have declined 27 percent since the company disclosed subpoenas from New York Attorney General Eliot Spitzer and the SEC on Feb. 14.
"He's probably trying to shelter those assets from civil litigants," said Bebel.
David Boies, Greenberg's lawyer, didn't immediately return a phone call to his home. Bloomberg News Service