Before the economic crisis, the big scandal at insurance giant AIG was ex-CEO Hank Greenberg. During his 38 years at the helm, Greenberg built AIG into one of the nation's largest insurance companies, but in 2005 the company's board pushed him out amid an accounting scandal pursued by then New York attorney general Eliot Spitzer. Greenberg, still a major shareholder, did not go quietly. On CNBC and anywhere else he could get a platform, the octogenarian denounced the company's management. He also sued on a number of occasions, including earlier this year, claiming that in the run-up to the financial meltdown, AIG had misrepresented its financial health. For its part, AIG sued back and took to coolly referring to Greenberg as "certain former members of senior management." Then, over the summer, a thaw began when AIG's newest CEO said he thought Greenberg had worthwhile advice. By late November, the announcement had been made: AIG and Greenberg would stop attacking each other in the courts and the company would pay off some of its former executive's legal claims. It would also turn over certain personal items he had left behind when he was booted, including photographs and a Persian rug.
The Top 10 Everything of 2009
- Top 10 Albums
- Top 10 Animal Stories
- Top 10 Apologies
- Top 10 Art Exhibitions
- Top 10 Awkward Moments
- Top 10 Best Business Deals
- Top 10 Breakups
- Top 10 Buzzwords
- Top 10 Children's Books
- Top 10 Crime Stories
- Top 10 Editorial Cartoons
- Top 10 Facebook Stories
- Top 10 Fashion Faux Pas
- Top 10 Fashion Moments
- Top 10 Feuds
- Top 10 Fiction Books
- Top 10 Fleeting Celebrities
- Top 10 Gadgets
- Top 10 Green Ideas
- Top 10 Heroes
- Top 10 iPhone Apps
- Top 10 Late-Night Jokes
- Top 10 Magazine Covers
- Top 10 Medical Breakthroughs
- Top 10 Movie Performances
- Top 10 Movies
- Top 10 New Species
- Top 10 News Stories
- Top 10 Nonfiction Books
- Top 10 Oddball News Stories
- Top 10 Pariahs
- Top 10 Pictures of the Year
- Top 10 Plays and Musicals
- Top 10 Political Gaffes
- Top 10 Quotes
- Top 10 Religion Stories
- Top 10 Scandals
- Top 10 Scientific Discoveries
- Top 10 Songs
- Top 10 Sports Moments
- Top 10 T-Shirt-Worthy Slogans
- Top 10 TV Ads
- Top 10 TV Episodes
- Top 10 TV Series
- Top 10 Tweets
- Top 10 Underreported Stories
- Top 10 Untruths
- Top 10 Video Games
- Top 10 Viral Videos
- Top 10 Worst Biz Deals
TIME charts the highs and lows of the past year in 50 wide-ranging lists