This morning, Hank Greenberg, former CEO of AIG until 2005, will be the sole witness at a hearing of the House Oversight Committee. His testimony comes at the request of Chairman Edolphus Towns.
The committee’s ranking Republican, Darrell Issa (R, Calif.), has expressed puzzlement at the fact that the committee is giving Greenberg such a forum. In a letter to Towns, Issa writes:
I am writing to express my concern about the credibility of our witness at tomorrow’s hearing. As you may be aware, Mr. Maurice “Hank” Greenberg is involved either directly or tangentially in no less than nine lawsuits. Most notably, a U.S. Attorney has identified Mr. Greenberg as a co-conspirator in a criminal securities fraud case that has already resulted in five convictions. News reports indicate SEC action against Mr. Greenberg on these securities fraud charges could come at any day and there are good reasons to believe he could face even more significant legal problems involving the alleged misappropriation of shares from Starr International Company, a trust fund to be used solely for the purpose of providing long-term deferred compensation for AIG employees. Historically, the Committee Republicans have taken exception to hearings which provide individuals of impeachable character a forum to rehabilitate themselves.’ I hope you will reconsider…
Whatever the reservations about Greenberg, the testimony promises to be quite interesting. It begins in 15 minutes and you can watch it here.





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