The House Oversight and Government Reform Committee held the second in a series of oversight hearings on the regulatory mistakes and financial excesses that led to the market breakdown on Wall Street, and on the impact of the crisis on financial markets and the U.S. economy. This session focused on the causes and effects of the government bailout of American International Group (AIG). In the first panel witnesses testified that deregulation in 1999 and 2000 of financial markets and inadequate disclosure by top AIG officials contributed to the collapse of major firms.