Edward Liddy, the chief of beleaguered insurance giant AIG, was compelled to testify before Congress today after the announcement that AIG employees would be given over $165 million in bonuses using public funds set off widespread criticism. In response, Liddy promised that he has asked those who received the largest bonuses to pay back at least half.
“I have asked the employees of A.I.G. Financial Products to step up and do the right thing,” Mr. Liddy told Congress. “Specifically, I have asked those who received retention payments of $100,000 or more to return at least half of those payments.”
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