AIG gets a new chief

What was a rumor in the morning became a fact this afternoon. AIG (AIG) has appointed a new president and CEO, Robert H. Benmosche , who was until recently the head of Met Life (MET).

Benmosche clearly has the credentials to run AIG as did the man who preceded him in the job, Ed Liddy, the former CEO of Allstate (ALL). The trouble is that the firm that was once the world's largest insurance company is such a holy mess that no one may be able to run it.