AIG's Liddy talks to lawmakers

American International Group (AIG) CEO Edward Liddy is speaking before the House Oversight and Government Reform Committee today, discussing the company's status. According to reports, Liddy told the group that the company has reduced, but not eliminated, the risk its failure could pose to the general global economy.

During these discussions, Liddy told the committee that the firm has a "substantial real-estate portfolio," adding that losses in the commercial real-estate market led to the company's large fourth-quarter loss. Liddy continued to state that further economic disruption is "reason to worry" and that he is "worried about that portfolio."