AIG’s Ex-CEO Says He Took the Job to Help His Country
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Former American International Group Inc. Chief Executive Officer Edward Liddy defended his decision to work closely with the government at the time of the company’s 2008 bailout, saying he hoped to win concessions on the harsh terms of an $85 billion loan.
Liddy’s testimony capped a weeklong examination of the government’s influence on AIG management in the trial of a lawsuit challenging bailout conditions by the insurer’s then-largest shareholder, Maurice “Hank” Greenberg’s Starr International Co.