AIG Risk Officers Remain In Place, Despite Disastrous Decisions

AIG's risk management team, whose job was to manage credit risk at the giant insurer, remain in place despite their disastrous oversight.
At least five of the 10 members of the so-called Credit Risk Committee, which was responsible for the credit-default swaps that brought the company to its knees, remain at their posts, according to the Wall Street Journal.
The five officials are:
-Robert Lewis, AIG's chief risk officer since 2004
-Kevin McGinn, chairman of the committee
-Win Neuger, chief executive of AIG Investments
-William Dooley, head of AIG's financial-services division, which had oversight of the unit that sold the credit-default swaps
-Barbara-Ann Livanou, director of financial institutions in the credit-risk-management department
On Thursday, Clusterstock obtained a fascinating letter, reportedly from an AIG employee, that detailed his experiences inside the infamous company. It noted: "By the way, the head of Risk Control for the whole of AIG, Bob Lewis, is still working in that role today."
And check out this interview from 2000 in which Lewis described the job of a chief credit officer, or CCO:

The CCO's ultimate responsibility is to see that credit risks are managed appropriately throughout the worldwide organization.

AIG gave this statement to the WSJ:

"AIG is committed to strong risk management....Recently, consistent with the terms of the U.S. Treasury's preferred investment in AIG, the company has clarified the authority regarding the board's now-named Finance and Risk Committee. The committee, among other things, reports to and assists the board in overseeing and reviewing information regarding AIG's enterprise risk management."