AIG Collapse and Federal Rescue
Channel: HouseResourceOrg
Date: 28/12/2010

AIG Collapse and Federal Rescue - House Oversight Committee - 2009-04-02 - Product 285045-1-DVD - House Committee on Government Reform and Oversight. Hank Greenberg, who retired as chairman and chief executive officer of American International Group (AIG) in 2005, testified about the history of the company and what led to the need for federal financial assistance. In his remarks he blamed the executives who replaced him for the company's collapse, refusing to accept any responsibility despite coming under fire from lawmakers on his role in fostering the firm's financial products division. Topics included the credit default swap program, the failure of internal controls, and needed reforms to the financial system. This portion of the hearing contains opening statements and beginning questioning of Mr. Greenberg. Questioning continues on 285045-101. Filmed by C-SPAN. Non-commercial use only. For more information see http://www.c-spanvideo.org/program/285045-1