AIG Chief Sees Retirement Age As High As 80 After Crisis

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Boris Cerni and Zachary Tracer
Bloomberg
June 4, 2012

American International Group Inc. (AIG) Chief Executive Officer Robert Benmosche said Europe’s debt crisis shows governments worldwide must accept that people will have to work more years as life expectancies increase.

“Retirement ages will have to move to 70, 80 years old,” Benmosche, who turned 68 last week, said during a weekend interview at his seaside villa in Dubrovnik, Croatia. “That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth.”

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8 Responses to “AIG Chief Sees Retirement Age As High As 80 After Crisis”

  1. Work more? Why? What are you going to do? There aren’t enough jobs to go around now. This guy might be a really neat CEO for AIG, but he is still an idiot.

  2. SPOKEN FROM HIS “SEASIDE VILLA”…..

    Billy Goat Reply:
    June 4th, 2012 at 4:23 pm

    Yah Really! I can just hear this freak saying “Please pass me the Grey Pupon”

  3. Upped the premiums for aged retirees two years ago by about 25-30% (January 2010) without notice after bailout. Representative AIG, off record, said “Unfortunately some elders will have to eat dog food because of this. Older people always try to pay their health insurance premiums. They usually don’t have anyone to advocate for them.” AIG is hardly a model for ethical business practices. Report from villa. That figures. Advice of CEO to raise retirement age. That figures. AIG collects more premiums without payout. That figures.

    “ Government is being paid back ( $182 BIL down to $30 BIL )”. On the backs of whom? Not the CEO and stockholders and certainly not the FED! Love his comments about banking sector contraction. “little bit of job loss” ”economists very optimistic…very good job growth” “Good slow growth” “national governments need to live within means” “problem in America… people lack confidence” “banks sitting on too much cash” “banks are the engine of growth” “ we don’t make banks comfortable enough to start making loans again…not worried about how much capital required… ”. Again it’s the government (indirectly the people) and the people responsible for the banking and business disasters. Never them.

    Government owns 61% of AIG. Lovely the way he spins the payback. All his prognosis is based on the health of the markets. “Doing well in Greece” ! “People of Greece have to see that there is no easy way out of this problem.” ”If they go to their own currency, the only way to see the problem SOLVED is through inflation. This will be devastating to the older people of that country.” “’There is no easy medicine”. “They have to take the medicine”. Where have we heard that recently? If they exit the euro, there will be hyperinflation. “(Nations) need more discipline.” PEOPLE HAVE TO WORK LONGER (age). LONGER HOURS. PUT IN MORE TIME. MORE DISCIPLINED. City of London speaking through AIG! Those interrelationships how interesting. Great interviewer, lots of information indirectly given. The loquaciousness of Benmosche helps.

    “In mid-2009, Benmosche was appointed CEO of American International Group. He assumed that role on August 10 of that year.[5] During his first meeting with employees, Benmosche …stated that he would not cooperate if asked to testify before Congress… He later asked for a personal private jet and said that he might quit over government-imposed pay restrictions.[6]” Lovely, fellow who lives in a villa with insured “early” retirement and “comfortable” lifestyle speaking with authority about the “others”. “Walk the talk” to be believable. Where was the DISCIPLINE of AIG to get in so much trouble?!!! AIG got preferential treatment and everyone else gets discipline, austerity and bitter medicine.

    Imrightyakn0w Reply:
    June 4th, 2012 at 4:09 pm

    No doubt Carol Ann. It’s easy to bark down at the public when you are so detached from it that you will never feel what they feel. Anybody that barks at the public from a bully pulpit has to realize that they cannot speak to the masses from their own point of view because their point of view will be one that is out of touch with the masses.

  4. HOW ABOUT IF GOVERNMENTS STOP SPENDING SO MUCH.

    A BRICK WAREHOUSE INSTEAD OF MARBLE PALACES.

    THIS ISNT OUR DEBT !

  5. Oh, and while we’re working till we’re 70 or 80 our taxes will be increased even more than they are now! We paid as high as $24,000 a year on two incomes. Of course, a mere $24,000 is definitely not enough. We must have more of your income to keep this charade going. Give me a break! If you do end up working past 65, and you have two incomes or maybe one is retired, I strongly suggest you stick everything you earn in a Roth IRA, or buy gold and silver! Keep as much as you can from the tax man, because they never have enough!

  6. Dear (NOT!) Mr. CEO AIG Spinderalla, I know a huge amount of 70 to 80+ year olds that are armed to the TEETH 🙂 and they practice too, often!
    This would only cause the younger people to not be able to gain employment. The older dying on the job and higher taxation and bigger spending for the Globalist Military Industrial Complex.

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