Greenberg: Finite Rules 'Opaque'

Maurice Greenberg, former chairman of American International Group, complained in print yesterday that the accounting rules regarding finite insurance are "opaque."

In a letter to the editor published in The Wall Street Journal, Mr. Greenberg gave what could be a preview of his defense in response to the civil suit filed against him and his company by New York Attorney General Eliot Spitzer accusing the insurer of using a finite insurance transaction as part of an accounting fraud.

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