Federal Watchdog Says Tough Oversight Of AIG Is 'Critical'

Law360, New York (July 26, 2013, 6:30 PM ET) -- A government watchdog told Congress on Wednesday that American International Group Inc. should fall under the highest level of federal regulation to ensure that the $182 billion bailout the insurance giant received from taxpayers was not in vain.

In a quarterly report to Congress, the special inspector general for the Troubled Asset Relief Program weighed in on the Financial Stability Oversight Council's recent designation of AIG as a systemically important financial institution requiring additional oversight.

The report indicated that SIGTARP, which combats white collar crime connected...
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