Home Business Hank Greenberg To Be Pressed On The Validity Of Private Bailout Solutions

Hank Greenberg To Be Pressed On The Validity Of Private Bailout Solutions

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Fox Business Network’s (FBN) Liz Claman reports that American International Group Inc (NYSE:AIG) Founder Hank Greenberg will “most likely be called to the stand this Friday” to testify “because of a jam-packed witness list.”  Claman went on to report, “government attorneys will attempt to poke holes in Greenberg’s assertion that he had the ability on short notice to cobble together a private equity bailout with the help of foreign sovereign wealth funds.”

On whether the government will press AIG founder Hank Greenberg on validity of private bailout solutions:

“Former American International Group Chairman and CEO Hank Greenberg will be pressed by government attorneys to specifically outline what type of private market solutions he had at the ready as the insurance giant faced a massive liquidity crunch during the 2008 financial crisis…Sources close to the matter tell Fox Business exclusively that lead government attorneys will attempt to poke holes in Greenberg’s assertion that he had the ability on short notice to cobble together a private equity bailout with the help of foreign sovereign wealth funds. The funds in question, sources say, are the sovereign wealth funds of both China and Singapore.”

On which day AIG’s founder Hank Greenberg will be called to the stand to testify:

“Because of a jam-packed witness list, Fox Business has learned that Greenberg will now most likely be called to the stand this Friday in what has become the most closely-watched trial related to the financial crisis. Sources say the 89 year old Greenberg will be on the stand up to four hours, grilled first by government attorneys and then examined by his own lead attorney David Boies. Neither Greenberg’s attorneys nor the Justice Department had comment.”

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