American International Group Chairman and Chief Executive Officer Edward Liddy strongly defended his company's decision to pay retention bonuses to key employees, saying that keeping top people on board is critical if AIG is to repay tens of billions in U.S. government loans.

Mr. Liddy's Dec. 23 statement, in an interview on CNBC's "Squawk Box," came in response to a complaint from Rep. Elijah Cummings, D-Md., that AIG was "stonewalling" congressional requests for data on its controversial bonus program.

In an earlier letter in response to the charges from Rep. Cummings and other critics, Mr. Liddy charged that the attacks had become "personal" and served no purpose. "We've disclosed every bonus we've provided, either in a press release or in a [government filing], and we're doing everything in a very transparent way."

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