Friday, June 5, 2015

Stigler smiles

In an Insurance Journal interview, AIG CEO Peter Hancock admits that he's captured. And is going to relax and enjoy it;
“For the most part, where we encounter government, whether it’s in Japan, the U.K., at the federal level in the U.S. or at the state level, we see an alignment,” Hancock said Wednesday when asked at the conference if there was too much interference from regulators. “The benefits of having a collaborative relationship with all of the government agencies you operate with, in my view, far outweigh scoring points as to whether more or less government is good.”
[our bold in the above]
.... “We are in the business of serving our clients and rewarding our shareholders with great returns,” Hancock said. “Getting into an ideological battle of whether more or less government is a good thing doesn’t seem like a winning proposition.”
Of course he was mum about the benefits to AIG of having been victimized by the former Attorney General of New York, Eliot Spitzer's beliefs about the power of government.

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