AIG CEO: “Retirement ages will have to move to 70, 80 years old”

Says the guy who made $7 million last year (and the year before) running a bailed out company from his comfortable European seaside “villa” as he calls it. It’s just a little too easy for blowhards like him to propose everyone else working that long while he’s raking in millions, with millions more to come upon retirement.

How do people like this overlook the lousy conditions of everyone else, so often? People like this somehow manage to also overlook Wall Street’s responsibility in this latest economic crisis. How convenient. More from Bloomberg:

American International Group Inc. (AIG) Chief Executive Officer Robert Benmosche said Europe’s debt crisis shows governments worldwide must accept that people will have to work more years as life expectancies increase.

“Retirement ages will have to move to 70, 80 years old,” Benmosche, who turned 68 last week, said during a weekend interview at his seaside villa in Dubrovnik, Croatia. “That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth.”


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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