(WMR) -- The
U.S. government�s bail out of insurance giant American International Group
(AIG) comes as no surprise to intelligence community insiders. In fact, AIG has
been at the center of a number of CIA operations for decades.
The federal government�s $85 billion �bridge� loan to AIG
essentially makes the United States government an 80 percent stakeholder in
AIG, a move that will prevent external players from peering into AIG�s myriad
intelligence operations on behalf of the CIA, according to an insider who has
followed AIG�s overseas operations for a number of years.
As attorney general of New York State and as governor, Eliot
Spitzer made AIG a prime target for his investigations. That ended when Spitzer
was brought down in a sex scandal involving a prostitution ring.
AIG�s chairman, before he was forced to resign amid scandal,
was Maurice �Hank� Greenberg. In 1962, Greenberg was hired by AIG�s founder,
Cornelius Vander Starr, the uncle of President Bill Clinton prosecutor Kenneth
Starr, as the chief of AIG�s North American operations. Greenberg
eventually took over as AIG�s chairman, as well as assuming the chairmanship
and CEO position of Starr�s other firm, C. V. Starr and Company. Greenberg
retained control of C. V. Starr and Company after having stepped down as AIG�s
chairman in 2005.
Greenberg, a close friend of Henry Kissinger, was considered
a potential CIA director in 1995 after James Woolsey resigned. Perhaps it was
Greenberg�s past connections to Whitewater Independent Counsel Starr�s uncle
Cornelius that dissuaded Clinton from giving Greenberg the keys to Langley�s
top executive washroom.
However, Greenberg and AIG had a long association with the
CIA, according to WMR�s sources. AIG�s intelligence operations in Asia even
pre-date the CIA and its predecessor, the wartime Office of Strategic Services
(OSS).i Greenberg has served as a member of the National Intelligence Council.
Cornelius V. Starr started AIG as �American Asiatic
Underwriters� in 1919 in Shanghai. Starr moved AIG from Shanghai to New York
after the Communists came to power in 1949. Ironically, AIG is back in China
through its ownership of People�s Insurance Company of China. AIG also owns AIG
Ever since the days of Ken Starr�s uncle, Cornelius, AIG
has, on behalf of U.S. intelligence, kept tabs on rising players on the
Asia political scene, particularly in China, Japan, Korea, Singapore, Hong
Kong, Taiwan, and other countries. The quid pro quo for AIG is that it
has weathered the storms generated by Spitzer and the global financial meltdown
with the strong support from the U.S. government in return for permitting the
mining of data from AIG�s insurance files by the CIA.
Greenberg has maintained close relations with the Beijing
leadership over the years. However, his dealings with the CIA are also well
known to the Chinese intelligence services. In fact, Chinese
intelligence is aware that Greenberg has allowed AIG to be used as a major
�placement� operation for a number of the CIA�s Asia-based
non-official cover (NOC) officers.
The CIA�s analysts who concentrate on Asia have also
enjoyed routine access to a huge AIG database maintained in San Francisco.
AIG�s new building in Hong Kong was intended to be a major outpost for CIA
agents assigned the China �beat.� However, Chinese intelligence succeeded in
thoroughly wiring the building with surveillance systems and AIG�s China
operations were blown. Chinese intelligence could not believe how
sloppy Greenberg and the CIA were in handling the Hong Kong
With the U.S. government now in control of AIG, the Bush
family will breathe particularly easier. On June 20, 2005, WMR reported the
following concerning the connection between Greenberg and the Bushes:
�The investigations of the secret Bush money tranches are
coming to the fore as New York Attorney General Eliot Spitzer focuses in on the
scandal involving Maurice �Hank� Greenberg and the inflation of the worth of
American International Group (AIG) through shady affiliates, including AIG
reinsurer Coral Re of Barbados. Greenberg was the CEO of AIG but was forced to
step down amid the Spitzer probe. AIG was founded from Asia Life/CV Starr, a
Shanghai-based international import/export and insurance firm founded in 1919
by Cornelius V. Starr, an Office of Strategic Services (OSS) operative in
Southeast Asia during World War II. AIG�s largest shareholder is Starr
International Company (SICO), an off-shore corporation incorporated in Panama
with headquarters in Bermuda. Kenneth Starr, the independent counsel who
prosecuted President Clinton, is the nephew of Cornelius Starr. Greenberg
inherited the CEO job and Chairmanship from Starr as well as the $3.5 billion
published in the Wayne
Copyright � 2008 WayneMadenReport.com
Madsen is a Washington, DC-based investigative journalist and
nationally-distributed columnist. He is the editor and publisher of the Wayne Madsen Report