Part of the deal requires that existing management be fired, according to CNBC. They'll be replaced by the Turnaround Team of Chuck Prince, Stan O'Neal, and Jimmy Cayne, who are all currently living together and can thus use the carpool lane.

Here's a brain buster for you, that I'm mostly asking of the AIG inner sanctum members joining us this evening but anyone can feel free to answer-- when they were sitting around making the decision to say "thanks but we're good" to PE, who did they think was going to come along with a more desirable alternative to the shit that's gone down tonight? Really, who or what gave them the confidence to say "we're holding out for something better," besides a severe blow to the head?

We want to hear what you think about this article. Submit a letter to the editor or write to