WASHINGTON–A House oversight committee has asked American International Group to provide it with extensive materials related to the activities of the company's troubled Financial Products group over the last two years.
The Friday letter from Rep. Henry Waxman, D-Calif., chairman of the House Oversight and Government Reform Committee, to AIG Chairman Edward Liddy is part of the panel's continuing probe of why the company was forced to seek a federal bailout last month.
The letter follows up on issues discussed at the committee's Oct. 7 hearing on AIG, when it was revealed that the company ignored warnings of financial problems and even when it experienced huge losses continued to dole out millions in executive bonuses and other compensation as well as for lavish meeting events.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
