Robert Benmosche, the CEO of AIG--a company that has received over $180 billion in federal bailouts and is still 62% owned by U.S. taxpayers—has gone on record today, in an interview at Bloomberg, stating that a major part of the financial solution for Greece, and for countries such as the United States, is the reality that
the 99% people just need to understand that they’re going to have work longer…until they’re “70, 80 years old.”
Here’s the LINK to the Zero Hedge story, complete with the Bloomberg video clip (the quotes are about nine minutes into it); and here’s an excerpt from Zero Hedge….
AIG's Benmosche, Speaking From His Seaside Villa, Says World Will Need To Retire At 80Here's a quick look at U.S. life expectancy, wherein—the country with the world’s most expensive healthcare—America ranks a pathetic 38th amongst all of the nations in the world, at 78.2 years overall; this includes an average life expectancy of 75.6 years for men, and 80.2 years among females.
06/04/2012 15:52 -0400
The other government-sponsored Ben-with-a-beard was in contemplative mood as the CEO of AIG relaxed at his Croatian seaside villa in a recent Bloomberg TV interview. Benmosche stated that "Retirement ages will have to move to 70, 80 years old" as that "would make pensions, medical services more affordable... taking the burden off of the youth." Opining on Greece (well, the Greek people really): "they have to see that there is no easy way out of this" and the government must get them to work longer (Greek life expectancy is 81.3 years so there's plenty of hours left for retirement). Towing his corporate over-lord status quo line, he notes that Greece abandoning the euro could be a disaster for the country but we assume if only they would work 23 hours-a-day for 81 years at a 95% tax rate then TROIKA will be more than happy to use them as a rotating receptacle for European bank holdings.
In other words, Benmosche, the CEO of the world’s largest (I’m assuming that includes life, health, property, etc.) insurer is telling us to work until we drop dead.
This is as draconian and disgusting as it gets, IMHO.
As I noted at the conclusion of a post about this topic, on August 21, 2011 (and in numerous other post over the past few years), “The WSJ’s Latest Retirement Tips For The New Normal: Work ‘Til You Die”…
I don’t know about you , but this just makes me feel sooooo…much…better…about proposed, “bipartisan” changes to the Social Security retirement age.
Yeah, I’m going to file this story right next to my recipe for “Cat Food Meatloaf.”
(I’m truly sorry that there are no “snark” tags for this diary.)
This is not going to end well...