The Excess Liabilities of AIG

To those in the insurance industry, excess liability is a term for an insurance policy that extends liability coverage above and beyond another policy when the coverage limits are exhausted.  To those outside the insurance industry, excess liability is the risk of having executives at AIG have corporate American Express cards.  These guys went out and dropped half a mil’ on wine, song and dance over a weekend while the rest of the country was nibbling their finger nails back to the cuticles worrying about the economy.  In this day and age of visibility, notwithstanding the fact that AIG is still a front page resident, they should have known that they would get noticed.  Actually, it’s really the fact that they shouldn’t have done it, period. 

I guess it’s going to be a little harder than we thought to change Wall Street and sterilize the greed that permeates the air.   Honestly, it doesn’t surprise me because once you get to the Garden of Eden, you won’t ever want to leave.  Plus, when you leave a group of voracious glutens with boatloads of cake and the utensils with which to eat it, you’re liable to see some excess.