American International Group Inc. is having to defend a conference it held for independent financial planners, even though sponsors and attendees paid 93% of the conference costs.
An ABC affiliate, KNXV, produced a segment suggesting that executives from AIG, New York, had been “partying on the taxpayers’ dime” at an asset management conference at a resort in Phoenix.
U.S. Rep. Elijah Cummings, D-Md., a member of the House Oversight and Government Reform Committee, put out a statement saying he was “shocked and disappointed” about the conference report.
AIG Chairman Edward Liddy says KNXV and other news organizations are describing the conference incorrectly.