• Most Popular
  • Most Shared

Former AIG CEOs back credit default swap regulation

Tue Oct 7, 2008 1:33pm EDT

Stocks

   

WASHINGTON, Oct 7 (Reuters) - Two former chief executives of American International Group (AIG.N) said they would back regulation of the credit default swaps market in testimony at the U.S. House Oversight and Government Reform hearing on Tuesday.

Stocks  |  Regulatory News  |  Global Markets

* Robert Willumstad, CEO from June through mid-September 2008, said that if the right regulation was put in place he would support it.

* Martin Sullivan, who stepped down as CEO after 3 years in June 2008, also said he backed regulation.

* Investments in this market contributed to the company's cash crisis and eventual rescue by the government.

Stocks
Regulatory News
Global Markets


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets