Majority ownership is NOT the same thing as being on the board of directors or any officer of the company. The majority owners are NOT the executives of a company in most cases, and certainly not in this case. If every "executive" for AIG that you described were to be forced to resign -- which the stockholders could certainly force by a majority vote -- not a single member of any congressional committee would be affected.
If they ramrod this through, am I mistaken to believe that essentially, they have then rendered all employer-employee contracts completely null and void? I mean, precedent would now stand that the government can and will interfere with the terms of ANY employment contract. Hell, or any other contract for that matter. Goodbye enforceable contracts in this country!
You are, of course correct - still, this would make waves for a while if we could get it going.