Of course, Huebner had JPMorgan’s blessing. Indeed, he was in the New York Federal Reserve building, representing JPMorgan Chase, when the request came. “It was pretty wild,” says Huebner. “JPMorgan released us as counsel in about one hour, [and minutes later] “I literally went upstairs with our new clients”-the Federal Reserve Bank of New York and the U.S. Department of the Treasury. The government had turned to Huebner to lead the $152.5 billion rescue of insurance giant American International Group, Inc.
Before morphing into a G-lawyer, Huebner had represented JPMorgan Chase in its attempt to complete a private rescue of AIG in September. But soon after taking on that assignment, it became apparent that AIG needed more cash than the private markets could muster. That’s when the big guns, including then-Treasury secretary Henry Paulson, Jr., and then-New York Federal Reserve president Timothy Geithner, turned to Huebner.
