House Committee to Hold Hearing on AIG Bailout Today

October 7, 2008

American International Group executives and several financial regulators are scheduled to testify today at a Capitol Hill hearing on the circumstances leading up to $85 million government loan to AIG.

The House Committee on Oversight and Government Reform will hold a hearing to examine the regulatory mistakes and financial excesses that led to government bailout of AIG. The hearing will be held at 10:00 a.m. in Rayburn House Office Building room 2154.

The following witnesses have been invited to testify:

Eric R. Dinallo, superintendent, New York State Insurance Department

Lynn E. Turner, former chief accountant, Securities and Exchange Commission

Robert B. Willumstad, former chief executive officer, AIG

Martin J. Sullivan, former chief executive officer, AIG

According to the committee, Maurice R. Greenberg, former CEO of AIG, will not testify due to illness.

Rep. Henry A. Waxman, D-Calif., chairs the committee.

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