AIG (AIG) Battling for Fed Clarity

American International Group (NYSE:AIG) CEO Robert Benmosche expressed frustration at the Federal Reserve dragging its feet concerning the bid by the company to buy back some of its former assets.

Benmosche said in an interview with CNBC, "We made an offer of $15 billion back in September, which we think is fair. But the Fed has not responded. Time is of the essence and we want to get this behind us."

Among the assets are subprime mortgage-backed securities which were once owned by the firm before the Fed took control of the company. The U.S. government owns 92 percent of AIG.

"We need a decision pretty soon," Benmosche exclaimed. "We have built up a large cash position to buy these assets and we are underperforming as a company. Having these assets would make our company worth more. It makes sense for us to own these."

AIG was trading at $36.35, down $0.60, or 1.62 percent, as of 12:08 PM EDT.