Memo to the Board of AIG

AIG owes it to the taxpayers who gave them a $150 billion bailout to review its board, some of whose members are dangerously overstretched

With the company embarrassed by media stories of spa retreats, partridge hunting expeditions, and the like, AIG's (AIG) board ought to recognize by now that when you take a $150 billion bailout from U.S. taxpayers, this is not "business as usual." In fact, it's tough to think of any situation where a company needs all hands more firmly on the boardroom deck than at AIG. Here are some of the demands that government check-writers should be making of the AIG board—or, preferably, that the AIG board should itself initiate to demonstrate leadership and commitment at the top of the house. (AIG did not respond to requests to comment for this column.)

To continue reading this article you must be a Bloomberg Professional Service Subscriber.