Former American International Group chairman and CEO Maurice "Hank" Greenberg called the intervention by the federal government in the company a "nationalization" in a Washington public appearance on Thursday.
In a feisty, 90-minute monologue, Greenberg also said he wouldn't have allowed the notorious AIG Financial Products division to collateralize the purchase of almost $80 billion worth of securities backed by mortgages of various quality through use of its life company reserves.
In his remarks, the 87-years young Greenberg took on the company, Eliot Spitzer and the regulatory environment.
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