Hank Greenberg gets mad, and then gets even.

I've been telling people both privately and publicly on the blogs that Hank Greenberg, the deposed King and CEO of the AIG group was not about to go quietly into the night after his ouster from AIG at the point of the gun leveled at him by NY AG Elliot Spitzer.  You don't get to the point of being the most feared, respected and powerful man in the US insurance industry by shrugging your shoulders and saying "what the hell" when your opponents abuse you, and Hank was not and is not going to take this lying down.

Well, the old Army Bronze star soldier has started his counter offensive judging by editorial in The Wall Street Journal and today's article in NY Times today in the online edition.

This is a proud, tough, smart and shrewd guy who knows the financials and deals in AIG better then any current executive and lawyer on staff, and who clearly feels he was thrown under the bus by his protégé's who wanted to wrest control of the organization from him and saw this as their chance. Trust me, as a guy who has seen AIG over the last 25 years I can assure you this is just the opening salvo in Hank Greenbergs battle to not just clear his name, but reassert control over the company that was and is his life's work.

We will follow it all closely for you here on The Settlement Channel.