Former AIG CEO Greenberg bows out of House hearing

WASHINGTON: The former chief executive of American International Group Inc., has canceled his scheduled appearance at a House committee hearing examining the chain of events that led to the government's $700 billion bailout of the financial industry.

House Oversight and Government Reform Committee spokesman Karen Lightfoot confirmed that Maurice ``Hank'' Greenberg would not be appearing at Tuesday's hearing but said she did not know the reason. CNBC reported that Greenberg had bowed out because of illness.

Greenberg was one of three former AIG CEOs scheduled to testify before the committee. The Federal Reserve rescued AIG with a $85 billion loan September 16.