Former AIG CEOs back credit default swap regulation
WASHINGTON (Reuters) - Two former chief executives of American International Group (AIG.N) said they would back regulation of the credit default swaps market in testimony at the U.S. House Oversight and Government Reform hearing on Tuesday.
* Robert Willumstad, CEO from June through mid-September 2008, said that if the right regulation was put in place he would support it.
* Martin Sullivan, who stepped down as CEO after 3 years in June 2008, also said he backed regulation.
* Investments in this market contributed to the company's cash crisis and eventual rescue by the government.
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