Federal Aid to AIG Insurance, CEO Testimony

Edward Libby testified about operations and business practices at American International Group (AIG) before, during, and after federal… read more

Edward Libby testified about operations and business practices at American International Group (AIG) before, during, and after federal intervention. Much of the focus was on AIG’s use of federal money to pay millions of dollars in bonuses. In his remarks he admitted the $165 million bonus payments to AIG executives were “distasteful", adding that the "cold realities” of business prompted the pay out.

During one exchange Mr. Libby refused to divulge the names of persons receiving bonuses because he said he feared for their safety following several death threats.

The hearing was briefly interrupted to remove signs from representatives of Code Pink. close

*The transcript for this program was compiled from uncorrected Closed Captioning.

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  • Rodney Clark Managing Director Office of Thrift Supervision->Corporate and International Activities
  • Joseph Crowley U.S. Representative [D] New York
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Federal Aid to AIG Insurance, CEO Testimony

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Program ID:
284698-2
Category:
House Committee
Format:
House Committee
Location:
Washington, District of Columbia, United States
First Aired:
Mar 18, 2009
Last Aired:
Mar 22, 2009

Airing Details

  • Mar 18, 2009 | 1:23pm EDT | C-SPAN 3
  • Mar 18, 2009 | 3:32pm EDT | C-SPAN 3
  • Mar 18, 2009 | 4:43pm EDT | C-SPAN 3
  • Mar 18, 2009 | 7:55pm EDT | C-SPAN 3
  • Mar 18, 2009 | 9:04pm EDT | C-SPAN 1
  • Mar 19, 2009 | 1:33am EDT | C-SPAN 1
  • Mar 19, 2009 | 4:53am EDT | C-SPAN 1
  • Mar 22, 2009 | 10:35am EDT | C-SPAN 1
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