American International Group's (AIG Quote) former CEO Hank Greenberg plans to release a plan outlining an alternative way to save the insurer that was rescued by the U.S. government last month, according to a published report.
Greenberg, who built AIG over four decades before being ousted in 2005, was expected to file his proposal with the Securities and Exchange Commission as early as Monday night, reports the Financial Times . The proposal had yet to be filed Tuesday morning. Greenberg's plan also is expected to be presented to Treasury Secretary Hank Paulson and key members of Congress.
The details were unclear but the plan could involve modifications to the deal with the government, which extended an $85 billion loan to AIG in September, the newspaper reports. ...
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