Whenever a financial behemoth totters on the brink of bankruptcy,government officials start chanting the mantra, “It's too big to beallowed to fail.” Is that the case with American InternationalGroup, collapsing beneath the crushing weight of subprime mortgageloans gone bad? AIG's former top dog, Hank Greenberg, certainlythinks so. But the big question is, will anyone be held accountablefor getting AIG into this mess in the first place?
As reported by our own Dave Postal, Mr. Greenberg made the case forhelping his old company keep from becoming the latest domino tofall in the subprime debacle while appearing on CNBC's SquawkBox.
He made it clear that it is in the national interest that AIGsurvive, adding that even if Uncle Sam has to step in directly andoffer a bridge loan via the Federal Reserve, that's “not abailout.”
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