CEO apologises for deep south comments

Robert Benmosche apologizes.

MarketWatch reports that Benmosche, the hard-charging and irreverent CEO of American International Group, on Friday issued a rare mea culpa, apologizing for comparing the plight of well-paid bankers to blacks in the Jim Crow South.

His penance came in a meeting with Rep. Elijah Cummings, a Maryland Democrat who had called for Benmosche to resign. The two met in Washington privately.

In a statement afterward, Benmosche said he had 'apologized for my reference to the South and the impact that it had on him and others'.

The comments in questions were made in a Q&A with the Wall Street Journal last month, where Benmosche compared the outrage over bankers’ bonuses to a lynch mob. The uproar, he said then, 'was intended to stir public anger, to get everybody out there with their pitchforks and their hangman nooses, and all that – sort of like what we did in the Deep South (decades ago). And I think it was just as bad and just as wrong'.

To access the complete MarketWatch article hit the link below

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image: © Justin Marty

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