The Journal sits down with the new AIG chief to see what he has in store for the company:
WSJ: Edward Liddy, the new chief executive of American International Group Inc., said in an interview Thursday that he hopes to keep intact as many of the company’s largest insurance operations as possible in a publicly traded company, after selling assets to pay back a federal loan.
“There will be a company at the end of this,” he said. “It’ll be smaller; it’ll be a lot nimbler.”
…Mr. Liddy said the company is motivated to repay the federal loan quickly, and alluded to the “loan-sharkish rate of interest” the government is charging — 8.5 percentage points above Libor, a common short-term lending benchmark. He said the $85 billion “should be sufficient.”
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