- "I believe we've satisfied their requests," says AIG CEO Bob Benmosche of New York's top financial regulator. "We are not going to be intimidated by competing regulatory authorities."
- Benmosche is talking about NY Department of Financial Services chief Ben Lawsky's oversight of the winding down of legacy mortgage exposure still left over from prior to the financial crisis. The Fed is already on top of this and has eight of its people working full time at AIG, he says.. The NYDFS is "going to have to learn to share" the role of regulating NY financial companies as the feds have greatly stepped up their oversight.
- "It's not necessarily surprising that AIG might want less scrutiny from the New York Department of Financial Services, but we have a responsibility to taxpayers to make sure that history doesn't repeat itself at AIG," says a NYDFS spokesman.