Statement from Senator Warren on Decision to Reduce Federal Oversight of AIG
Boston, MA -- Senator Elizabeth Warren released the following statement on the Financial Stability Oversight Council's decision to remove American Insurance Group's (AIG) designation as a "systemically important financial institution," reducing federal oversight of AIG:
"This decision shows once again that the Trump Administration cares more about rewarding Wall Street executives than protecting Americans from another financial crisis. AIG got a $180 billion taxpayer bailout less than a decade ago and, without proper oversight, it will remain a huge and interconnected company that could bring down the financial system again. AIG executives may enjoy bigger bonuses thanks to this decision -- but the economy is at greater risk of another meltdown."
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