AIG CEO Liddy offers halfsies-back on executive bonuses

Photo: C-SPAN3

AIG CEO Edward Liddy told the U.S. House Financial Services Committee that he has asked AIG executives who got bonuses “to return at least half of those payments.” Some want to return 100 percent, he said. C-SPAN3 is streaming the hearing in live video.

Under questioning by Rep. Paul Kanjorski, Liddy said he had assumed the Federal Reserve Bank had shared information about the bonuses to the Treasury Department.

“There was no intent to deceive or to hide anything,” Liddy told the committee (prepared remarks PDF).

Reps. Keith Ellison, Erik Paulsen and Michele Bachmann are members of the full finance committee, and Bachmann is member of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, which is holding the hearing. Each subcommittee member has been promised five minutes to question Liddy.