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    Saturday
    Apr022005

    A Top Insurance Company as the New Enron?

    DateSaturday, April 2, 2005 at 7:47AM

    An accounting probe at AIG worries Wall Street, and involves some of America's richest men.

    NEW YORK � American business is facing yet another major scandal involving more accounting shenanigans.

    But, this scandal has the potential to cause tsunami-sized damage: It involves a highly respected insurance company, American International Group (AIG) - which is part of the Dow Jones Industrial Average - which has now admitted to $1.7 billion in improper accounting. And, it has enveloped some legends in the financial arena: Maurice "Hank" Greenberg, forced out as chairman of AIG, and Warren Buffet, the Omaha stock market guru, who will be questioned about his possible involvement.

    Details here from The Christian Science Monitor.

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