Former AIG CEO Hank Greenberg claimed that the government's takeover of AIG was unnecessary and that the company could have been saved through private financing or the Fed window. He alleged that Treasury Secretary Hank Paulson forced a bailout deal that funneled $20 billion to Goldman Sachs through the "back door." Greenberg maintains that the scenario of a total economic collapse was a "phony baloney" justification for the seizure.
