More Videos
- Cisco Ups Tandberg Bid, Claims Over 40% Backing
- 'Significant Weakness' Still Ahead: Fed's Hoenig
- BlackRock: Central Banks To Be Net Buyers of Gold
- Stronger Yuan Needed for Global Rebalancing: IMF Chief
- Washington Not Trying to Contain China: Obama
- Japan Third Quarter GDP Jumps; 2010 Growth May Slow
- Quiz: How Much Do You Know About Green?
- JP Morgan to Bid Over $3 Billion for Cazenove Stake
- Buffett: I Haven't Bought AMEX Shares in Years
- Warren Buffett to CNBC: 'I Haven't Bought American Express In Years'
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- U.S. Stocks Rally for the Second Straight Week
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- Hirschhorn: Risk-Averse Traders
- Roginsky: A Funny Thing Happened on the Way to Financial Reform
- This Year's Biggest Thanksgiving Leftover: Cash
- TV Series Inks Unique Deal For Fight
MOST SHARED
- U.S. May Wind Up Green With Envy
- Warren Buffett to CNBC: 'I Haven't Bought American Express In Years'
- Japan Third Quarter GDP Jumps; 2010 Growth May Slow
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- EADS Cautious on Full-Year Forecast after Earnings Dip
- Stronger Yuan Needed for Global Rebalancing: IMF Chief
- Sustainability Indices Sprouting Up
- Taking a Page from Obama's Asia Agenda in Investing
- GM to Start Repaying $6.7 Billion US Government Loan
- BlackRock: Central Banks To Be Net Buyers of Gold
Text Size 
Robert Willumstad, former CEO of American International Group, said the company has “more than enough” assets to cover the $85 billion loan it received from the U.S. government without it becoming a massive issue for taxpayers.
Willumstad served as CEO of AIG [AIG
Loading...
()
] from June 2008 to September 2008 and voluntarily gave up the $22 million severance package that was entitled to him after he left the company.
AIG has faced scrutiny for recent spending that critics have called excessive given the company's need for a federal bailout to avoid bankruptcy.
(Watch the accompanying video for the full interview with Robert Willumstad...)
On Wednesday, the Associated Press reported that AIG executives spent thousands of dollars on an English hunting trip, even as the firm was asking for a $37.8 billion loan from the Federal Reserve in addition to the $85 billion the company had already received.
Last month, days after the government stepped in to bail out the company, AIG picked up a $440,000 tab for a week-long retreat at a posh California resort for top-performing insurance agents.
Print
Email
- Where, what, how.
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- Switzerland's privacy watchdog is taking legal action to force Google to make changes to its Street View service.
Data is a real-time snapshot *Data is delayed at least 15 minutes