After just three months as head of battered insurer American International Group, Robert Benmosche has threatened to leave his post as he struggles to deal with heavy government oversight and restrictions on what the bailed-out company wants to pay employees, according to a published report.
Citing unnamed people familiar with the matter, The Wall Street Journal reported online late Tuesday that Benmosche told AIG's board he was "done" with the job, although he reportedly is reconsidering his stance in the face of the board's dismay.
According to the people, the former MetLife CEO is frustrated with the constraints of leading a company majority-owned by the government, the paper said. The Journal said Benmosche has complained to AIG's board about the outcome of the Treasury Department's pay review which slashed pay for a number of AIG executives by 91 percent from 2008. WSJ:
This is the guy who spent the first two weeks on the job at his Adriatic vacation home overseeing his vineyard. His compensation package is worth $10 million, But oh, he is so put upon because during a recession, when one in six American workers cannot find a job, people are upset because of the idea that it is necessary to shower multiple millions of dollars on people to move ones and zeroes around on a computer screen.
What's infuriating is not that Benmosche and other executives like him is such a whiny-ass titty baby, or that he is so soulless that he doesn't even understand how infuriating his remarks are to people who are either out of work or worried about being out of work. What's infuriating is that people like Robert Benmosche are the ones the economic advisers to the Obama Administration serve.
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