NU Online News Service, Oct. 8, 11:38 a.m. EDT
NEW YORK–While warning against imposing additional laws and new federal overseers on an already heavily-regulated insurance industry, Maurice Greenberg, AIG's former chief executive, said rating agencies need government supervision, while credit default swaps should be regulated as insurance.
"We blame management, of course, for the excesses that led to our financial crisis, but where were the regulators?" said Mr. Greenberg, currently chair and CEO of C.V. Starr & Company.
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