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Cramer: AIG Chief Must Go

AIG CEO Martin Sullivan is so bad, so utterly incapable of running the nation's largest insurance firm, according to Cramer, that on Friday’s show he unveiled an extended annex to the Wall of Shame dedicated entirely to Sullivan.

After the Dow component posted an $8 billion loss Thursday – dragging the whole market down with it on Friday – and said it needs to raise an additional $12.5 billion, Cramer was astounded at how far the once well-run insurer has fallen. “This company is moronic,” he said flatly.

If Sullivan left, Cramer believes AIG shares could go up by as much as 20%. He appealed directly to the AIG board and shareholders:

“This man has to be fired,” he said. “I cannot believe how bad this guy is.”

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