You know it's going to be a tough hearing when the committee head warns at the outset that he will have people arrested if there are any shenanigans. Indeed, tempers were flaring way before AIG CEO Edward Liddy appeared before a house subcommittee, whose members let him have it. One said that AIG now stands for "arrogance, incompetence and greed," notes the New York Times.

But Liddy came armed with an olive branch. He told the committee he has asked those in the financial products group who received payments of $100,000 or more to return at least half. He noted that some have offered to give up their bonuses. Liddy also acknowledged mistakes "on a scale few could have ever imagined possible." Still, he felt he had to honor the contracts. We'll see if this placates the critics. 

For more:
- here's the New York Times article

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