More Videos
|
CNBC'S MOST SHARED
- A Goldman Trading Scandal?
- Rich People With A Death Wish
- Facebook Director Sees 'Billions' in Revenue in 5 Years
- The Threat of Ballooning Pensions
- Lehman CEO: Firm Deserved Bailout or 'Wind Down'
- Downturn Boosts Aruba's Business
- Latvian Banker Taking Souls as Collateral
- FedEx Sees Signs of a Turnaround: Report
- Market's Monday Blues
- Hey, What's Up Doc?
- Second Half: Wait For Pullbacks, Then Buy the Best
- Discover Shares Fall on Word of Stock Offering
- California General Obligation Bond Rating Cut
- GM to Get Final $20 Billlion From US This Year
- Goldman Sees No Harm From Computer Programmer
- World Trade Center Developer Threatens Arbitration
- The Weirdest Currencies on Earth
- Judge Gives Control of Jackson Estate to Executors
- Recession Special: Wine Cheaper Than Water!
- March Lows Will Hold — So Buy Equities: Strategists
- Lacoste Runs Full Page Ad With Roddick Loss
- Brandt: Bing, The Little Search Engine That Couldn't
- 5-Star Manager's 5 Top Stocks
- Hey, What's Up Doc?
- Busch: Summertime Blues Hits Investors
- Chadwick: Recession and Scandals Pave the Way for Romney 2012
- Art Cashin: The S&P's 'Head and Shoulders' Number
- Michael Jackson: Death And Taxes
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
Data is a real-time snapshot *Data is delayed at least 15 minutes