US Lawmakers Question AIG Plan, Future

"We think that the American taxpayer will be fully repaid" in three to five years under the company's plan, Liddy said.

Liddy agreed to provide portions of AIG's "Project Destiny" restructuring plan to the committee, but said details are sensitive and could hurt the company's ability to sell assets while unfairly helping its international competitors: ACE Ltd., Zurich Financial Services Group and Axa SA.

Jill Considine, one of three trustees charged with overseeing the government's interest in AIG, called the company plan "workable."

The trustees have asked Liddy to make a thorough review of AIG's compensation programs and to develop a new one. They also are seeking new board members for the company, who could be elected at a shareholders' meeting next month.

"We share the concerns about the payment of large bonuses at a time when AIG was failing and being rescued by the taxpayers," Considine said.

Considine and the other trustees — Chester Feldberg and Douglas Foshee — appeared separately from Liddy but also endured some harsh questioning from lawmakers.

"It's an inside deal," Rep. Marcy Kaptur, D-Ohio, told them angrily, citing their former and current ties to large financial institutions.