The Whistleblower’s Dilemma:
Confronting Fraud at AIG
by Gordon S. Massie (Author)
Too big to fail and too corrupt to survive is a good way to summarize the dilemma Gordon Massie faced at AIG. His is a stunningly captivating story of the toxic mix of arrogance, deception, fraud, and incompetence that reduced AIG to a shell of its former self. In the recent era of sensational corporate impropriety and collapse, none was greater than the debacle of AIG, which scarred the lives of many innocent people, including author Gordon Massie, former head of the Leveraged Finance Group at AIG. His story is both corporate and personal, one the reader cannot put down until the last page is turned. For more than thirty years, Massie climbed the business ladder the honest way: making money by competent analysis of transactions and opportunities, solid management skills, and loyalty to both his employees and company shareholders. But at AIG his honesty was nearly his undoing. Although he saw mounting abuses and warned of the consequences, he believed almost too long for his own good that AIG would correct its mistakes. In the end, AIG did not change its ways and Massie soon found himself a target of frightening corporate malfeasance fit for a Hollywood thriller. Except that his is a real-life story. In a race against time, he beat AIG to its knockout punch, collected his evidence, and filed his whistleblower charges. The evidence of corruption he presented was unmistakable and overwhelming. AIG capitulated, its top executives were fired, and not long thereafter AIG itself went into the federal version of receivership, a victim of questionable business practices and highly questionable corporate ethics.
About the Author
GORDON S. MASSIE worked in the financial/investment business for thirty years with companies including Texas Commerce Bancshares, Prudential Insuracne Company, American General Corporation, and American International Group (AIG). At AIG he was Head of the Leveraged Finance Group with management responsibility for sixty investment professionals and nearly $20 billion of investments, including high-yield bonds, bank loans, emerging market debt, and distressed/bankrupt assets.
- Paperback: 244 pages
- Publisher: Kingsley Literary; First edition (January 11, 2011)
The Whistleblower’s Dilemma: Confronting Fraud at AIG
Ever wonder what you would do when confronted with a life changing decision that would affect you and those you love? Most of us always fantasize that we would stand up for what is right and become a hero in our own minds. Thankfully most never have to make this decision and if we do, we make the safe play and try to rationalize that the wrong we see will go away. Mr Massie confronts wrong doing, becomes a hero and challenges others to do what is right not what is comfortable and safe.