NU Online News Service, May 12, 1:53 p.m. EDT
WASHINGTON–American International Group's game plan going forward is to establish "separate identities" for its "best businesses" and to shut down its financial products unit, company Chairman and CEO Edward Liddy is expected to tell a House panel tomorrow.
But the spinoffs will only occur over time and not at fire-sale prices, according to an advance look at his prepared testimony. He is also expected to disclose details of AIG's close interaction with officials of the Treasury Department and the Federal Reserve Bank of New York.
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