Corbett Report: AIG Exposed

[Music] you're listening to the Corbett report corbettreport.com welcome ladies and gentlemen welcome to another edition of the Corbett report I'll be your hosting guide for the next hour james corbett of corbettreport.com podcasting to you as always from the sunny climes of western japan here on the 25th day of june 2012 this week i would like to once again direct your attention to an interview that was conducted by another media outlet with yours truly james corbett this time legalized – freedom calm which conducted an interview with me about the Fukushima situation and the nuclear industry in general an interesting hour-long conversation and the note the show notes for today's episode will contain the link to that conversation for you to check out at your leisure and I hope you will do so and secondly today the other point that I'd like to bring up I would like to once again call on the support of listeners it's been certainly a long time since we've done anything like this but in the past we have used and rallied your support into getting and securing certain guests for the website well this time I would like to ask people's support in a different manner if you happen to be on Twitter I am about to send out a tweet in fact by the time you're listening to this it will probably already have been tweeted out basically asking people to retweet if they're interested in seeing Billy Corgan of the Smashing Pumpkins on the corbett report it has come to that time when Billy is doing his his media appearances for his new album and it's doing some touring the Smashing Pumpkins will be coming to Asia later on this summer so if the possibility is there to schedule some sort of interview I would certainly be interested in that anyone who has for example listened to his very interesting interview with Steve Jones of The Sex Pistols from a couple of years ago where they talked quite openly about chemtrails and genetically modified foods and the various ways that were under biochemical attack will know that this is not only a way to tap into the mainstream zeitgeist as it were and to to access a lot of people who would not otherwise be listening to something like the Corbett report it also promises to be a very interesting conversation in and of itself so if you are interested in this project please help me by retweeting that tweet if you happen to be on Twitter just go to twitter.com slash Corbett report and you can find that tweet and retweet it and hopefully it might get someone's attention and might help to secure that interview but on that note let's leave that there and let's turn to today's podcast because we have a ton of information to get to today welcome my friends episode 232 of the corbett report aig exposed if you are anything like me or many many others standing on this side of the precipice that was the global economic collapse of September 2008 you probably received a no pun intended crash course in American International Group aka AIG in the wake of that crisis even by today's standards AIG losses are breathtaking the insurance giant blew through nearly one hundred eighty nine thousand dollars a minute last year that's despite the 150 billion dollars taxpayers invested to prop it up by the time this is said and done the cost of AIG to the taxpayers is about two hundred billion dollars or about two thousand dollars for each household if it's such a money drain why keep AIG afloat at all because AIG is at the hub of the global financial system insuring pensions money markets banks and insurance companies against losses in 130 different country if AIG fails the whole wheel could deflate president understands that he will take the steps necessary to ensure that there is not a catastrophic failure to our economic system today's thirty billion dollar aid package is meant to buy time as the government which now has an 80% stake in AIG tries to sell off parts of the company at the highest possible price let's say you're a small property investor you own three houses would you like to have to sell them in the next month would you like to be able to hold on to at least a part of them to sell them over the next three years will Americans ever get their tax dollars back the government appointed CEO of AIG seems confident they will the underlying insurance companies that represent AIG they are rock-solid they're performing well they generate earnings they generate cash will be able to take either that cash or the value of those assets give it to the Federal Reserve and satisfaction of the debt the CEO predicts it will take 15 to 18 months to stabilize the company but analysts say if the economy continues to deteriorate this may not be the last time taxpayers have to open their wallets to help AIG this is the story of American International Group aka IG that most people out there probably know by now namely the downgrading of their credit rating in the wake of the Lehman Brothers collapse in September 2008 that caused a liquidity crisis that it in turn caused the markets to go into a tizzy and caused really ultimately the formation of a new paradigm the bailout paradigm that we're still laboring under today whereby the US Federal Reserve steps in and does whatever it has to do in terms of printing funny money and raining it down on Wall Street as helicopter Ben Bernanke promised before becoming chairman of the Fed well it's exactly what happened in this crisis and this is exactly what has transpired with as that report indicates not V one hundred and eighty two point five billion dollar bailout the largest bailout in history number that was thrown around at the time but in fact a bailout that climbed upwards of two hundred billion over the course of the preceding several months so something of just unthinkable scale scope and size something that truly was unthinkable just a few months before and what better sign that we're living in a new paradigm then the unthinkable suddenly becomes banal reality and so on this side of the disaster sitting here in 2012 we may have taken all of this well somewhat in stride we may have forgotten just how large a seismic event in the economy that was and even what its ramifications continue to be and it looks like the prevailing narrative about all of this is that well it's time to sweep the AIG story under the rug and really forget about the nationalization of the largest insurance company in the world and the twenty ninth largest corporation in the world let's just sweep that back into the memory hole because it's no longer important because we have stories like this one from Toledo Blade com from just earlier this month fed reports repayment by AIG of fifty three point 1 billion dollar loan quote the Federal Reserve Board reported Thursday that American International Group has repaid all of its 53 point 1 billion dollar in bailout loans from the Federal Reserve Bank of New York plus interest the government stepped in with a one hundred eighty two point five billion dollar package to rescue new york-based AIG from collapse in 2008 the bailout was largest in history and quote and that is the entirety of that article a grand total of three sentences devoted to the largest bailout in history and the subsequent day numa of that bailout and with that I guess we're supposed to just basically shove that in the collective memory hole and forget all about AIG where it came from and what it's doing now but it's not as easy as that as you may have imagined so there have been very few people but there have been some brave people out there exposing AIG what it's really been doing and what the ramifications of all of this are so today we're going to be digging up those skeletons and putting them on display for all to see now in order to understand any of the context of this story why it's important or where it's heading from here we will have to as always start rolling up our sleeves and exploring the real history of American International Group what it is how it was formed and what its real history is and in order to do that well why don't we turn to the horse's mouth itself and take a look in there and see what we can find and by that I mean why don't we listen to a speech given by none other than former AIG CEO and the person who really built AIG into the company that we know it as today former CEO hammerin Hank Greenberg whose actual name is the much less interesting and much more prosaic Maurice Greenberg and he gave a speech outlining some of that history of AIG and how he came on board with the company so let's listen to him talking about this good morning let me start really picking up with a confession I enlisted in the Army when I was 17 I hadn't finished high school World War two was on I felt I wanted to do something and I was bored so I was able to fix it birth certificate so it said I was 18 and then they had no problem taking me because they weren't looking too closely I went to Europe went to England first I got there 1943 a year before the invasion spent a year training left England went to the continent obviously on d-day then went all the way through Europe linked up the Russians in Linz Austria war

. and over came back I had to finish high school which was a which is a true are coming back and after being in a war and going back to high school was one of the toughest times in my life actually but I did went on to college and law school finished law school in the Korean War broke out I was a reserve officer I got in commission toward the end of the war spent a year in Korea separated as a captain came close to staying in the military because I was fairly young and had moved up pretty well in rank and I was often trying to incentivize me to stay in the military but I didn't when I finished law school and came back I was married by then my get married a girl that I met in college and I had to get a job I didn't feel like practicing law I didn't think I didn't have a law degree I didn't think I want to do that so I was visiting I came back in Korea and the next day went down to visit some of my friends who had been went to law school which and that convinced me that I didn't want to practice law and as I left their office I went by an insurance company Continental casually company that's what I see if they had a job offer I went in went up to the personnel director and he was kind of nasty I just got back from Korea and I came back I had orders to fly back so I was really very untamed at that moment you know just only about four days before that I said Holmes had mud on my boots and so I went down to the main floor looked around the directory and there was a resident vice-president the name above blah blah read I just walked into his office and said you have a word I use without the what I use now you don't have a very good personnel director and now that was a little more excited than that and I wound up getting a job and I started as a junior underwriter in the insurance business two letters a junior underwriter you annual you analyze risks and decide whether the company wants to write those risks or not and I had to get a job which I said I was married and responsibilities and I kind of liked it I was working in this what they called a special risk division which was a different kinds of risks almost every day summer sports risk some was accidental death thing for executives the whole range of different risks you had to analyze I found it interesting I became the youngest vice president in the history of that company I moved to Chicago where head office was and about a couple of years later it's a long story I won't take you through I met star CV Starr who was the founder of the company that I chair today Starr started his company in China in 1990 a long time and obviously during World War two he had a leave came back to the United States and he had a series of small insurance companies and I was intrigued with his this because it operated outside United States by and large he had one company in the United States called the American home which really was a failure it was not doing well and he was embarrassed by that fact that a company that was not doing well that he owned his other business he represented American companies in doing business overseas was called the aiu American International underwriters it was one of a kind and then operated mostly in Asia one or two European countries but biological acidic and nao its background was really Asian having started in China as I said in 1919 so anyway I joined a star and took over the American home in New York which I said was not doing well it was it was a failure now what was what was wrong with it it did business through agents and depending upon the skill of a company would determine the quality of the agents that ahead and in while it was an old company it was it had a very poor agency organization and so the quality of its business was very very very poor so I was losing money year in and year out and the job I had was to turn it around to cut to that short I got rid of all the agents and when to what – call the brokerage business out of writing small businesses we began writing large commercial risks and we need a lot of reinsurance I went to London and got voids the back at that strategy and up to then most of the large risks were being written in London it Lloyd's very few American companies had the skills to underwrite large complicated rest whether it was large property risk or casually or marine aviation very difficult risk and we assembled a group of quality underwriters and we were and we started doing that we ultimately became the largest brokerage underwriting company in the United States oh oh sorry sorry about that I must have dozed off there yes well so far so perfectly bland as you would expect from the completely monotonous and boring details of a bland financial institution like AIG and it's perfectly snooze inducing history spoken in bland monotones by a particularly uninteresting storyteller blah blah blah Greenberg came in turned American home around started to look for other insurance companies turned them around put a holding company on top of it AIG was born became CEO took over CV Starr and company in 67 CV star died in 68 Greenberg became the kingpin of this big financial empire blah blah blah etc etc you can go and listen to the whole story for yourself in its entirety by following the link to that audio on the show notes for today's episode at corbettreport.com but why don't we cut to the chase because in amongst all of this bland history there are some very interesting Nuggets we did a much better job in both in both developing our business and managing the business in a more efficient way than others would do and obviously you have to have an organization you got to surround yourself with people who share the same values the same the same aspirations that you do you have to have a team that works and in glove and we did the senior management of AIG was like a band of brothers we saw things alike we work well together I mean there wasn't ever a palace revolution anything like that it was a was a great organization we had more diversification because that became you know clearly diversification was essential but in order to do business in many countries you had open the market markets didn't you know welcome you in many countries and take Japan for example it was a very closed market Japanese were very reluctant to open a market to foreign insurers so we had a we had a foster market open and we did we use the US government was very very much on our side and if the Japanese didn't open a market to us we would we were taught to keep some of their own companies whether it was insurance or otherwise or other things from doing business in the United States we didn't hesitate to use US government to support our desire to open markets around the world didn't hesitate to use the US government to open markets around the world for AIG well that must have been quite the band of

brothers that Greenberg was able to amass around himself in the upper ranks of AIG one wonders what kind of connections they would have had to the US government to enable them to wield so much power in the interests of their own private profit my world I went to right I went to the Soviet Union in 1964 during the height of the Cold War and began a reinsurance relationship with them and that that lasted throughout the years even during the height of the Cold War we had a relationship going on it wasn't easy Thanks what I was in the CIA most of the time it was a difficult it was a difficult but we persisted and when when the iron curtain came down we had a head start against anybody else hmm well being a CIA agent certainly would actually make sense in a lot of different ways especially the connections the government that enabled Maurice Greenberg and his band of brothers to wield the government like a stick for the use of their own private profit at AIG but but the way Greenberg tells it just sounds like sour grapes from jealous competitors and suspicious foreign governments so is there anything to this can we dig up anything about AIG of a Greenberg about the past of this insurance company that would make such ridiculous outlandish accusations actually seem not so outlandish well the answer is a resounding yes but you're going to have to bear with me and buckle down because we've got some reading to do in fact quite a bit of it there are some absolutely incredible articles that I want to draw your attention to that will help to connect some of the many many many dots in this greater AIG picture but as I say there's a lot of reading to be done here so we'll put in on the record what we can the rest of it you'll be able to garner from the show notes for today's episode once again the link to the articles so that you can get them and save them to your hard drive so they don't mysteriously vanish into the internet memory hole we'll be there for your reading pleasure and until then let's start going down this rabbit trail and see how far down the hole we can get with stories like this one from that bastion of conspiracy mongers and paranoid theorists the LA Times which back in September 22nd 2000 interesting article about a piece of history that had up until then been classified and basically the public had not been worthy of knowing it according to the US government it goes under the headline the secret insurance agent men quote they knew which factories to burn which bridges to blow up which cargo ships could be sunk in good conscience they had pothole counts for roads used for invasion and head counts for city blocks marked for incineration they weren't just secret agents they were secret insurance agents these undercover underwriters gave their world war two spy masters access to a global industry that both bankrolled and ultimately helped bring down Adolf Hitler's Third Reich newly declassified US intelligence files tells the remarkable story of the ultra secret insurance Intelligence Unit a component of the Office of Strategic Services a forerunner of the CIA and its elite counterintelligence branch x2 so rarely numbering more than half a dozen agents the unit gathered intelligence on the enemy's insurance industry Nazi insurance Titans and suspected collaborators in the insurance business but more significantly the unit mind standard insurance records for blueprints of bomb plants timetables of tide changes and thousands of other details about targets from a brewery in Bangkok to a candy company in Bergdorf they used insurance information as a weapon of war said Greg Bradshaw a historian and National Archives expert on the Declassified records the OSS insurance unit was launched in early 1943 long after it had become alarmingly clear that the Nazis were using their insurance industry not only to help finance the war but also to gather strategic data American insurance companies had been competing furiously for overseas business even after the United States entered the war and the OSS file suggested sailes about us factories and cities were falling into enemy hands because of the interlocking international relationships among insurance companies Germany had 45 percent of the worldwide wholesale insurance industry before the war began and managed to actually expand its business as it conquered continental Europe as wholesalers or reinsurers these companies covered other insurers against a catastrophic loss that could wipe out a single company in the process the wholesaler learned everything about the lives and property they were reinsuring the motives of the OSS units founders were both pragmatic and patriotic this story is incredible because the unit begins as part of the desire of American Insurance interests to contribute to the war effort and exploit it for future economic gains said historian Timothy Naphtali a consultant to the Nazi war criminals interagency working group that was created by Congress last year the men behind the insurance unit were OSS Head William Wild Bill Donovan and California born insurance magnate Cornelius v-star Starr had started out selling insurance to Chinese in Shanghai in 1919 and over the next 50 years would build what is now American International Group one of the biggest insurance companies in the world he was forced to move his operation to New York in 1939 when Japan invaded China end quote well if you're anything like me not only will that story have cleared up any questions there may be about any linkages between the proto AIG and the proto CIA back in the day and not only will that have cleared up why it is that intelligence agencies in general would be interested in making use of insurance companies it should also have been a very interesting piece of history and if that is the case then I would suggest you go and read the whole fascinating story for yourself once again the entire article linked up in the show notes at corbettreport.com but wait it doesn't stop there in fact things get deeper and weirder because although that is an interesting piece of history and it does definitively tie the brackets proto AIG head CV star to the proto C and the OSS led by Wild Bill Donovan it doesn't necessarily implicate Maurice Greenberg who was the person we were listening to and who really pulled together AIG as we know it today in the 1960s 70s 80s so the question I guess is still a fair one well what does this have to do with Maurice Greenberg can we definitively prove anything about him well there's a number of things that we can say about Maurice Greenberg and the the actual AIG and its involvement in some very strange dealings so for more on that I'm going to direct your attention to an unusually thorough and well researched article from the ozark Gazette and I believe this was actually originally published in 1995 it has been preserved thanks to the Internet and you can go on to follow the link from the show notes to find this very very fascinating article that goes into some great depths about a very interesting case involving the arkansaw development and Finance Authority so let's start reading this it starts under the headline gray money and it reads quote activists seeking documentation that would support claims that the state of Arkansaw was involved with money laundering on a massive scale may have found the missing link in their three-year search documents obtained by the Arkansas committee showed that the Arkansas development and Finance Authority a Bill Clinton signature project was involved in a highly questionable and possibly illegal sixty million dollar deal in which a BSA bore owed five million dollars from a Japanese bank in order to buy stock in a barbados insurance company the stock was not registered with the Securities and Exchange Commission the state of Arkansas was the lead investor in a deal which poured sixty million dollars through a barbados company coral reinsurance which is currently under investigation by insurance regulators in new york pennsylvania and delaware as well as by men Hadden district attorney Robert Morgenthau lead prosecutor in the BCCI scandal additionally the Ozark Gazette has recently been told that as a result of the release of the Kuril documents the independent counsel Kenneth Starr is also investigating the deal persons involved in the deal which began in 1987 and ended in 1991 include Bob Nash then president of a DFA and now personal director of the White House Robert Rubin then president of Goldman Sachs investment bank and now secretary of the Treasury and Maurice Greenberg president of American International Group and a candidate in 1995 to be Director of Central Intelligence the American International Group is a hundred billion dollar multinational insurance company which founded coral reinsurance company in 1987 the fact that AIG founded coral was hidden from insurance regulators for at least three years and was only recently proven by the reluctant release by a DFA of the original stock placement memorandum Maurice Greenberg as president of AIG is a very well-connected businessman and a player in international politics he serves as the chairman of the US China Business Council and lobbied hard and successfully for the Clinton administration to sever the link between China's human rights record and renewal of China's

most favored nation trade status members of the board of directors of AIG include Martin Feldstein Harvard University economics professor and former chairman of the President's Council of Economic Advisers and Carla Hills former US Trade Representative AI G's International Advisory Board is headed by Henry a Kissinger the original deal was pitched it to a DFA by Goldman Sachs a new york-based securities firm which played an important role in the transaction Goldman Sachs had pledged to sell the stock for coral and in addition pledged to buy the stock if for any reason the other investors could not hold it and were forced to sell Goldman's president at the time was Robert Rubin later appointed by the Clinton administration to succeed Lloyd Bentsen Benson as the secretary of the Treasury and quote well I don't know what to say other than to say that this story goes on and on and on and on and gets more and more bizarre as you get into it and involves all sorts of figures who should whose names should be ringing a bell in one way or another but suffice it to say even in that first section of the article just those first few paragraphs I think we could have it prutte fully take a look at any one of those linkages and probably make an entire episode out of each one and just as an example we could take a look at the independent counsel who is investigating the deal coral reinsurance and the various people involved in this deal well who was that special independent counsel Oh kenneth starr st AR AR oh yes the great nephew of cornelius v-star the founder of what became AIG and AIG being the owner of coral reef the if the entire locus of which this independent counsel was allegedly investigating and Kenneth Starr of course being the prosecutor who went on to uncover the big scandal of the Clinton years Monica Lewinsky so all of the what are the Whitewater stuff all of the atfa stuff all of the Mena Arkansas drug-running that we've talked about in previous episodes of this test gets completely swept under the rug and Monica Lewinsky becomes the reason for the impeachment of Bill Clinton and basically forcing him to start the bombing in Yugoslavia and that again is a completely other topic for another episode but that's a pretty interesting linkage right there and goes to show what a farce the supposedly independent investigation into this coral raid deal is and of course we can also note the appearance of Goldman Sachs and Henry Kissinger and others in this these first few paragraphs but why don't we dwell for a moment on the arkansaw development and Finance Authority which came to – into existence under Governor Bill Clinton then Governor Bill Clinton of Arkansas back in the 1980s well what is the ADFA and what was it involved in I first met Bill Clinton in the mid to late 70s he was an up-and-coming politician there were a group of his gym guy Tucker Bill Clinton chef Bill Nelson and myself and we kind of ran around and piled around with each other is from that point that I did a lot of projects for Bill from a marketing perspective in 1988 I went to Bill and said I need a job to kind of relax mellow out Bill Clinton and Betsy right they suggested that I go to work for a place called their Arkansas Development Finance Authority and they said my talents could really be used there it was best kept secret in Arkansas after about two weeks I went to work nibs and I said wouldn't I think I've got enough background on this that we can start marketing it now what is the criteria for lunch if every bill wants to get on to go back though to that moment in time I've been there about a month and I realized that I was in the epicenter of what I'd always heard about all my life what most people have heard about is the machine I was literally working setting in the middle of Bill Clinton's political machine it was where he made payoffs where he repaid favors to people for campaign support I was an interesting seat and I knew it we had a board meeting in that particular boarding I was sitting at the end of the table James Branyan who was chairman of the board at that time saying at the head of the table James Brandon stood up in a public restaurant and he hollered at the Beverly Enterprises guy bobby students and said did you get the 50,000 dollar  campaign contribution from the client that you got your in addition the loan for he said not yet and so then hold up the loan till we get it I stood a went up to James I said James don't yell stuff like that you need to be yelling in a restaurant that sounds real bad he just barely an arrogant wasn't okay Bill Clinton sold the concept of a DFA to the people of Arkansas as a vehicle for creating jobs and assisting churches and schools in reality millions of taxpayer guaranteed dollars were being channeled to Clinton's election campaigns to his inner circle of friends and to his wife Hillary's law firm this may explain why a DFA had been drafted in such a manner as to keep its decision-making procedures secret if you needed me enough we had to get your application handled by the Rose law firm paid them 50,000 dollar there were five other companies in the state of Arkansas that were actually more qualified in bond structuring and applications that rose law firm got them up I started checking around and I kept asking you know what they should bother me to the Comptroller bill Wilson you know how do people make payments on these loans he looked at me said they done he thought I knew that blew my mind this is about two months he was getting tough then so I started gathering the documents after everybody left I would stick around as if I were working on the annual report that would give me access to all the documents and I make copies of all for about two months I watched accounts accumulate money and then a month a zero balanced they're laundering drug money there were 100 million a month in cocaine coming in and out I mean Arkansas they had a problem they were doing so much money in cocaine 100-metre you create a problem in a little state like Arkansas how do you clean 100 million dollars a month add until 1989 never banked in Arkansas what they would do is they would ship the money down to Florida a bank in Florida which later would be connected to BCCI they would ship money to a bank in Atlanta Georgia which by the way was later connected to BCCI it shipped to Citicorp in New York which would send the money overseas there's an interesting one a bank in Chicago that Bank by the way is partially owned by Dan Rostenkowski dan Lassiter we get the bonds he would become the broker for the bonds he would transfer money back to antha he never sold the bond the money then would leave at 4 go into one of the various banks for the specific bond loan and they would zero it out when they eroded out they were giving it back Lester Lester handling piece during the last investigation we had humorous witnesses for the federal grand jury had extensive testimony people that were connected with Laster and drug use and everything else he is cocaine use become used as a tool for sexual favors and also for business deals and influence people and that's when mr. Lashley become quite one buoyant with his cocaine use and then awfully led to his rational connection the sad part of all of this is that as amazing and just incredible as this story is the rabbit hole continues to go deeper and deeper so I will allow you to explore that on your own with the ADFA and how that that dovetails into the Mena connection which we began to detail way back in episode 19 of this podcast and surely five years ago so I will ask you to harken back to that episode if you want more information on the Minah connection drug running and how that leads right into the lap of Bush and Clinton but in in case we want to continue pressing ahead with the AIG side of everything here at the very least AIG s involvement in this deal with the coral reinsurance getting sixty million dollars of investment five million of it from the ADFA which all signs point to drug money laundering a very very interesting case and one of the particularly interesting parts about coral reinsurance is well where the name came from or at least allegedly came from and this all goes back to coral Talavera Baca who was the or at least alleged to be were

Part 05 here

trust and when he shared his concerns with him they agreed that something was going on grove names these honest employees in his testimonial who in addition to Gary Lascaux included Catherine Lee Ken rice Richard brew Hart and Jeff's old cipher according to growth all of these individuals perished on 9/11 and a quick check confirmed that their names do indeed appear on the fatality list of World Trade Center victims the proverbial manure hit the fan on June 5th 2001 the day after groves sent an email to his sales team informing them that silver stream was billing Marsh millions above and beyond the numbers we were being paid commissions on there seemed only two possibilities either the members of his team were being cheated out of their rightful commissions or silver stream was defrauding Marsh & McLennan later that day Grove received word from Gary Lascaux that Marsh had decided to retain silver stream for the next phase of the project he immediately informed his boss of the good news Grove was personally delighted because his rightful commission would have been a payday worth well over a million dollars he never collected it however because the next morning Grove was summoned to his boss's office and abruptly terminated this is not the end of the story several weeks later Grove suffered a medical emergency that required hospitalization emergency surgery and weeks of recovery in August 2001 while still bedridden he was contacted by a silver streams chief financial officer and offered 9999 dollars in cash plus an extension of his medical benefits if he would agree never to talk about the work he did for the company girls needed the continuing medical coverage and agreed to silver streams terms during his convalescence however he became suspicious about the secrecy agreement and decided that at the very least he should maintain contact with the honest employees at Marsh several of whom had become close friends shortly thereafter one of them arranged her growth to attend a meeting they had arranged at the offices of marsh & mclennan where they planned to openly questioned the suspiciously unconcerned executive who seemed to be at the center of the controversial secrecy that executive agreed to participate via a telephone conference linked from his apart Minden uptown Manhattan this was the same individual who months before had warned Grove to look the other way Grove claimed to be in possession of documents proving illicit activity and he planned to produce them at the meeting on the day of the showdown however he ran late delayed by heavy Manhattan traffic Grove says he was on Vesey Street between building six and seven of the WTC complex when the South Tower exploded apparently from the impact of UAL 175 by then all or most of his friends in the North Tower were already dead or trapped on the upper floors all told some 300 or more Marsh employees perished that morning the victims of terrorists end quote well that is a particularly good summary of the Richard growth story in Marsh & McLennan and how that was related to Jess Greenberg and Maurice Greenberg and ties in with the AIG scandal and ultimately ends up at 9/11 as an access point where we see this illegal or at least alleged illegal trading taking place involving Marsh and other entities and that trail is followed in much more depth throughout black 9/11 so once again I would suggest you go and get the copy to start following that very fascinating trail and one that I still think is vastly under explored in the realm of the 9/11 truth movement but where does this all leave us well this leaves us at a very very interesting stage where AIG and Maurice Greenberg and the Greenberg family and all of these characters are being implicated in all of these various plots but all of this seems to be dismissed because just a few years later Maurice Greenberg actually gets forced out of his position as CEO of AIG the company that he helped build from basically the ground up by well and pretty much an upstart the New York Attorney General Eliot Spitzer over some fraud allegations well that seems to be quite the the precipitous fall from grace or someone who was for example once held up as a potential Director of Central Intelligence how could it be that he was taken down by just this up rogue attorney-general in this little fraud investigation there must be more going on well for some indication of what was happening there we're going to listen to some clips from a very interesting episode of dead line live with jack blood from way back in 2008 at the time of the collapse of Lehman Brothers and the bailout of AIG in which Richard Grove was talking to Jack baud about some of these connections and what he really thinks all of this Maurice Greenberg being shoved out of his position really means well I want to I want to underscore because they destroyed a lot of evidence that day both at the Pentagon and building seven in the World Trade Center towers a lot of crucial evidence to show malfeasance money laundering etc etc was all destroyed and they tried to destroy you and your evidence by dictating you up again keeping in mind they had prior knowledge that the towers would come down and they wanted our guest Richard Grove to go up to the 96th floor to bring all of his evidence and to I should laugh but I mean it's just amazing that they thought they could get away with us and it was just fortuitous a chance of luck you got stuck in traffic that you weren't up there in that Tower and were killed that day with along with your evidence right because Enron started I think September 6th and a bunch of the Enron records when World Trade Center 7 and in the World Trade Center there's all sorts of things going on with that and I think that you know the person who you know inadvertently or purposely directed me to go to the building that day in researching what he's done since he's in a partnership with a Council on Foreign Relations member so you know when silverstein is getting warnings from you know possibly the Mossad or other CFR members who are in the know and marsh and AIG are run by a father-and-son team who are both in the Council on Foreign Relations and the father Hank who runs AIG was the chairman of the Council on Foreign Relations and the chairman of the Federal Reserve Bank and then right after 9/11 Marsh and AIG got busted for their insurance scheme so Spitzer goes in and investigates and there's a whole it goes really deep from there but the summary is that Hank Greenberg had to leave AIG and so that's what I think is going on right now he's making a move through said using it as a proxy to retake over his company at a fraction of the cost you saw how that isn't something you're going to hear on the news folks every day can you get into we got about two minutes left in this segment we're going to be talking about this folks for the entire hour with our guests Richard Andrew Grove can you elaborate on that so Hank Greenberg Maurice Hank they call him Hank Greenberg it's not the baseball player but you know that's why he took it he named himself Hank after the famous baseball player his name's Maurice Greenberg he had a history in the u.s. Signal Corps which became the NSA he has very close ties to the OSS and CIA he's worked with while Bill Donovan back in the day before it was the CIA one of the cofounders of the CIA his son is on the board of directors of AIG and Kroll associates and Kroll associates did security at the World Trade Center on September 11th and has an affiliation with John O'Neal and his death and there's all sorts of things but let me just back it up a second and just say that you know it starts out AIG started out with Cornelius v-star who also worked with while Bill Donovan and Cornelius v-star is related to Kenneth Starr who put Bill Clinton on trial so that whole misdirection about a blow job while Kosovo and all these other Milosevic all these things are going on we have to just understand that you know they they basically try their own people using their own people so there's never any unknown risk and what's going to happen it's all like theatrical all right let's pick up where we left off you kind of dropped a bombshell and that's why I wanted to have you on and I'm reading things a lot in a lot of the same ways you are Hank Greenberg using the Fed to retake his company AIG any elaboration any evidence any documentation you can throw behind that and let us know exactly why you think that would be appreciated go ahead that would have been good for me to print it out right I I do have it and I'm going to post it on the website along with this video in the next 24 hours but what it causes is this when Hank Greenberg got displaced out of his own AIG he then became chairman he fell back to be chairman of something called the star foundation and something called sicko the star investment company and so when you go into what these entities do it brings what AIG does in the context because AIG for instance at one time at least in the recent history had more private airliners than any other corporation out there so they had their own private fleet of airlines like the largest private fleet outside of the military and so the question is what what is AIG do what is the nature of insurance what is the nature of reinsurance and as some keeps me protection money right but good right your protection money there's when you bring in Kroll because Curl does kidnap and ransom protection and these sort of policies that are held by top CEOs and covered by AIG they actually use Kroll as the the you know the operator the action area that goes in and rescues these executives who were held hostage for money and whatnot so you know view of that aspect of the insurance and then when you get into the reinsurance really along with software that is a prime vehicle in a plausible place where you can launder large amounts of money because you're dealing with all this – all this fluff and there's not there's not much solidness there so it's a huge area and so what we back up a step and you say what was

Part 07 here