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AIG forced to curb exec pay, spending; As woes mount, Greenberg slams bailout terms.(News)(American International Group Inc.)

Article from: Business Insurance Article date: October 20, 2008 Author: McLeod, Douglas

Byline: DOUGLAS McLEOD

NEW YORK-American International Group Inc.'s struggles worsened last week as New York's attorney general attacked it for lavish executive pay and spending practices, and former Chairman Maurice R. Greenberg asserted that the insurer likely won't survive without revisions to its bailout deal.

AIG Chief Executive Officer Edward M. Liddy agreed last Thursday to help New York Attorney General Andrew Cuomo recover bonuses and other payments to former executives, a day after Mr. Cuomo blasted ...

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