Former AIG chief executive testified before a congressional committee on Thursday that when he left the company several years ago, it was still in good financial shape.
“As far as I know, there were no losses,” he said, according to Reuters. “When I left the company it was healthy.”
Republican representative Darrell Issa, a member of the House oversight and government report panel said: “Crumbling of AIG began on your watch.”
Greenberg is currently the largest shareholder in AIG. The insurer has been the recipient of billions of dollars in federal emergency loans. It was been called “too-big-to-fail” by the government, saying it’s failure poses a systemic risk to the financial system.
During the hearing, representatives stressed the importance of reforming regulations to provide better oversight over financial firms.
When asked if he accepted any blame for the company’s demise be Rep. Elijah Cummings, Greenberg replied: “No, I do no.”