AIG Hosts Seminar While Seeking Additional Federal Aid

By: Associated Press
By: Associated Press
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American International Group is defending a sales meeting it held at a luxury resort in Arizona, saying it was a necessary training tool.

ABC News initially reported on the Phoenix meeting hours after the Federal Reserve and Treasury Department announced an infusion of another $40 billion into the ailing insurance giant.

AIG officials maintain the meeting held last week was a legitimate event that helped train about 150 independent financial advisers.

A spokesman adds that while some previous AIG-sponsored events may have been questionable, this one was needed to help the company move forward in paying back taxpayers backing the government-sponsored bailout package.

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