AIG's Liddy: Bonuses "Distasteful"

A House subcommittee grills the AIG CEO on the company's bonuses and business practices. In prepared remarks, Liddy calls some bonuses "distasteful" but says the "cold realities of competition" made them necessary. "We are meeting today at a high point of public anger. I share that anger." Read full remarks here (pdf). Plus: Liddy writes WashPost op-ed ahead of hearing. Read key excerpts here.