Eli Broad: AIG Can't Recover

Eli Broad, a former director and shareholder of AIG, said yesterday that "it is too late" for the insurance giant to make any recovery. The Los Angeles billionaire told Reuters that the government's initial bailout of AIG came "on the harshest of terms," and that a Citigroup-style guarantee of toxic assets would have been more sensible. Broad said he was no longer investing in insurance: "I don't have any hope, not now." (More AIG stories.)