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Panel To Hold AIG Hearing

By Arthur D. Postal

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A congressional committee chief has asked Edward Liddy and several members of an American International Group Inc. oversight body to appear at a hearing.

Rep. Edolphus Towns, D-N.Y., chairman of the House Oversight and Government Reform Committee, has asked Liddy, chairman of AIG, New York, and Jill Considine, Chester Feldberg and Douglas Foshee to appear before the committee May 6.

Considine, Feldberg and Foshee are trustees serving on the AIG Trust, a panel formed by the Federal Reserve Board of New York in early January to oversee the government’s investment in AIG.

Towns asked for an update on AIG in a letter dated April 27.

Towns has asked Considine, Feldberg and Foshee to answer questions about the roles and responsibilities of the AIG Trust; the efforts the trustees have undertaken to date to perform their duties; and the adequacy of efforts to protect the U.S. taxpayer investment in AIG.

Considine is a former chairman of the Depository Trust & Clearing Corp., New York, and a former superintendent of New York state banks.

Feldberg is a former chairman of the Barclays Americas of Barclays P.L.C., London.

Foshee is president of El Paso Corp., El Paso, Texas.

A New York Fed spokesman was checking at press time to see whether the trustees would attend the hearing.