Testifying before the House Committee on Oversight and Government Reform, Maurice "Hank" Greenberg, former CEO of American International Group Inc. (AIG), laid the blame for the company’s demise on his successors, saying the company was healthy when he was forced out in 2005.

“AIG’s business model did not fail—its management did,” he testified. “AIG’s business model has a long track record of success over many decades.”

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