Warren: AIG rescue "broke all the rules":

05/27/2010 | CNNMoney

Congressional Oversight Panel Chairwoman Elizabeth Warren said the government's rescue of American International Group "broke all the rules" and was the result of poor regulatory oversight. "The company was a corporate Frankenstein, a conglomeration of banking and insurance and investment interests that defied regulatory oversight," Warren said. AIG received a $182 billion government rescue plan instead of entering a traditional bankruptcy proceeding.

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