Retire At 80 and Die at 82? - AIG (AIG) CEO Does His Best to Cause Mass Depression
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AIG (NYSE: AIG) CEO Robert Benmosche has a suggestion in response to the global economic crisis – increase the retirement age to 80.
"Retirement ages will have to move to 70, 80 years old," Benmosche told reporters in Dubronik, Crotia over the weekend. "That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth."
His suggestions are in response to the crisis in the EU, which some say is a result of overly generous entitlements.
"People in Greece have to see there is no easy way out of this and the government must get them to work longer", said Benmosche in the interview. Greece, it should be noted, has an average life expectancy of 81.3.
Because of risky bets on CDOs, AIG was forced to take an $85 billion bailout to avoid a complete meltdown of the banking system in 2008.
"Retirement ages will have to move to 70, 80 years old," Benmosche told reporters in Dubronik, Crotia over the weekend. "That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth."
His suggestions are in response to the crisis in the EU, which some say is a result of overly generous entitlements.
"People in Greece have to see there is no easy way out of this and the government must get them to work longer", said Benmosche in the interview. Greece, it should be noted, has an average life expectancy of 81.3.
Because of risky bets on CDOs, AIG was forced to take an $85 billion bailout to avoid a complete meltdown of the banking system in 2008.
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