Insurance giant AIG's role in market crisis probed

WASHINGTON (AP) - Executives at the American International Group Inc. hid from its auditors the full range of risky practices at its financial products division even as losses mounted, according to documents obtained by a congressional panel examining Tuesday the chain of events that forced the U.S. government to bail out the conglomerate.

AIG, crippled by huge losses linked to mortgage defaults, was forced last month to accept an $85 government loan that gives the U.S. an 80 percent stake in the company. Last week, AIG said it has drawn down $61 billion of the loan, and planned to sell off some of its business units to pay off the loan.