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). Former AIG CEOs Martin Sullivan and Robert Millumstad attributed the crisis to borrowing, lending, and accounting practices; lack of credit; loss of investment confidence; and other factors. Questioning focused on executive compensation and responsibility.