The House Oversight Committee plans to meet Oct. 7 to review the "regulatory mistakes and financial excesses" that led to the current problems at American International Group Inc.
"Lax oversight and reckless investments on Wall Street are causing massive disruption throughout our economy," Rep. Henry Waxman, D-Calif., chairman of the committee, says in a statement. "Our hearings will examine what went wrong and who should be held to account."
Witnesses invited include Maurice Greenberg, Martin Sullivan and Robert Willumstad, former chief executives of AIG, New York.
The committee also has invited the new AIG chairman and chief executive, Edward Liddy, and asked him for:
1. All documents or communications, including e-mails, transmitted to or from the Chief Executive Officer (CEO) of AIG during the 180-day period ending on September 16, 2008, excluding personal communications.
2. All documents or communications, including e-mails, (a) transmitted to any member of the board of directors of AIG from any employee of AIG or (b) received by any employee of AIG from any member of the board of directors of AIG during the 180-day period ending on September 16, 2008.
3. All documents or communications, including e-mails, transmitted between Maurice Greenberg or his representatives and (a) any member of the board of directors of AIG or (b) any employee of AIG during the 180-day period ending on September 16, 2008.
