Hank Greenberg pleads for AIG help
Hank Greenberg, former Chief Executive Officer of AIG, is pleading for the U.S. government to help AIG out of what he says is just a liquidity issue.
This morning, an interview with Greenberg ran on CNBC in which he discussed the damage done to his personal wealth and the potential worldwide damage to be done if AIG fails.
No banks have stepped up to assist AIG and many stakeholders are pressing the government to intervene. Mr. Greenberg said that government help would not be a bailout because AIG is solvent.
I can’t call this one. I disagree with a government “bailout” but, I also do not want to see AIG fail and send the U.S. market (and the rest of the world) into a tailspin.
Time is running out. If a deal isn’t made today, will AIG be around tomorrow?
Tags: AIG, bailout, bankrupt, hank greenbergRelated Stories
POSTED IN: Corporate, Economy, Federal Reserve, Investment, Market, News
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