Former AIG boss speaks out
Maurice Greenberg has told the Wall Street Journal that he was not responsible for problems at AIG as they occurred after he left.
Comments on the story of the WSJ website tend to disagree.
The interview says Greenberg will argue for pressuring AIG's trading partners, which include foreign banks that received large payments due to the insurer's bailout, to invest that money back into AIG.
He will also call for slimming down the government's stake in the insurer to 15% from the current level of nearly 80% in a bid to attract private investors.
Other AIG news
The Telegraph reports that a lawsuit filed in Los Angeles Superior Court alleges that the ailing insurer artificially inflated salaries and lied to lawmakers about the bonuses given to officers and employees.
The civil complaint was filed by John Bible, a retired judge and AIG shareholder, and seeks unspecified damages. It also claims that the company overpaid workers by basing salaries on falsely-inflated revenue.
It names a number of directors, including chief executive Edward Liddy, retirement services chief Jay Wintrob and director Stephen Bollenbach, alleging that they helped put together a bonus scheme which breached the company's fiduciary duty to shareholders. It also accuses AIG of falsely claiming the payments were needed to stop employees leaving.
