Friday, May 27, 2005

Typhoons are good for shell games.

New York State's firebrand Attorney General Eliot Spitzer talks about the state's case against US insurance giant AIG. The company allegedly covered up losses by "linking" damages from a typhoon to its Taiwan-based subsidary to losses in a Brazilian-based subsidary.

These charges, however, are peripheral compared with the allegations that the company has been inflating its worth to ward off regulators and please investors. More here.

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