WASHINGTON BUREAU — A congressional critic of American Inernational Group Inc. wants any candidates for the AIG chairman and chief executive officer posts to release detailed financial information.
Rep. Elijah Cummings D-Md., a member of the House Oversight and Government Reform Committee, has asked the board of AIG, New York, to collect the same sorts of financial background information about candidates for the AIG chairman and CEO posts that the government collects when it fills top positions.
The information should be public, Cummings writes in a letter to the AIG board.
The AIG board is looking for successors for Edward Liddy, the current AIG chairman and CEO.
Liddy, who announced plans to resign May 21, accepted the AIG chairman and CEO posts in September 2008 at the request of former Treasury Secretary Henry Paulson, for a payment rate of just $1 per year.
He now says AIG should assign the chairman and CEO posts to two different individuals.
Cummings says candidates for the jobs should disclose their stock holdings, employment history and other information.
Cummings is seeking the information to avert a repeat of what he and others see as evidence that Liddy’s selection involved a conflict of interest, according to staffers in Cummings’ office.
Liddy had served on the board of Goldman Sachs Group Inc., New York. Goldman Sachs received $12.9 billion from AIG after the insurer was rescued.