The FT has reported that:
AIG has no plans to suspend lobbying activities in Washington, in spite of the US government's unprecedented $85bn bail-out of the insurance group.
The company, which is coming under intense pressure in Congress to rein in excessive spending, said it would continue to lobby members of Congress because it was important for the company and its shareholders to keep tabs on legislative activities in Washington.
This is exactly why we have to take control of these organisations. The bankers and their friends really do think that they have been given a licence to carry on as before.
This cannot be the case.
But let's also be clear: appointing compliant non-execs won't work either. Those who are going to take on the task of re-moulding our economy are going to have to come from the ranks of those who believe change is needed, and deliverable. They do exist.
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