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Article: Greenberg says new deal should keep AIG running.(News)(American International Group Inc.)
- Article from:
- Business Insurance
- Article date:
- November 17, 2008
- Author:
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mark A. Hofmann
WASHINGTON-Federal assistance of $150 billion "should be enough'' to keep American International Group Inc. afloat, the troubled insurer's former chairman and chief executive officer said last week.
Maurice R. Greenberg, now chairman and CEO of C.V. Starr & Co. Inc., also said "there's a lot of money in the Middle East and Asia'' that would be willing in invest in AIG. But he said such foreign investors will not put money into a "nationalized'' company. The federal government owns nearly 80% of AIG as a part of the original $85 billion rescue plan it reached with the insurance holding company in September.
Mr. ...