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Examples
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Chief Executive Officer Robert Willumstad gets a $7 million package.
Suffering For The Many By Actions Of The Few « Unambiguously Ambidextrous 2008
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With the AIG bailout, Robert Willumstad was forced to step aside by Shifty Paulson.24
HAVE YOU SEEN MY COUNTRY LATELY? JERRY DOYLE 2010
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Chief Executive Officer Robert Willumstad gets a $7 million package.
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TODD: One of many angry retorts when Willumstad and Sullivan tried to explain why AIG took enormous risk in the bond insurance market.
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Willumstad e-mailed his successor, Edward Liddy, of his decision to forego the severance since he was not able to execute the restructuring plan he had developed.
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Greenberg, who ran the insurer for nearly four decades, pointed at heavy reliance during the tenure of his successors Sullivan and Willumstad on credit default swaps, a form of insurance in which holders of mortgage securities are guaranteed payouts even if mortgage holders default.
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Willumstad then said the firm had to scramble to find capital.
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TODD: When Willumstad and Sullivan blamed the bond insurance bust and other problems on a change in accounting rules ...
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Sullivan and Willumstad then proceeded to put the blame on AIG's tumble on "mark-to-market" accounting rules, which forced the insurance company to list its bad mortgage securities as losses on its balance sheet.
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Willumstad was forced to step aside on Wednesday in favor of Edward M. Liddy.
qms commented on the word Willumstad
I think "glitch definition" is the term of art in these parts. This appears to ba a surname, most notably of the deposed head of AIG. It does not seem to have anything to do with the Founding Fathers, who are already misrepresented to a deplorable extent.
April 26, 2014