Revolving door: Levitt hired by AIG
One time-honored way of quelling critics on governance and shareholder issues is to hire a big-gun ex-regulator. AIG has done just that. Former SEC chairman Arthur Levitt has been retained by the board to evaluate director nominees and advise on various governance issues. He was brought on by Frank Zarb, who shares a long history of "conflict resolution" with Levitt, according to The New York Times. CalPERS has reacted favorably to the development -- a good sign -- exactly what the board intended.
> Here's the New York Times article.
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