Whats the story with Liz?

Here is a clipping from a recent Liz Smith column that might answer your question:

"THERE WAS A SENSE of the ominous in the reports on Elizabeth Taylor's interview in W, in which she graphically describes the ruins of her health and body ("a little old lady, bent all sideways!") Her statement that she is "ready for death" seemed especially grim. But this is ET's way. She's not ready to die right now, just not fearful of what comes to all - she has been near enough times not to fear it. And, this was the star of stars declaration - I am ill, I am basically housebound. My public life is essentially over.

Just as she scribbled a dramatic note to the world when she and Richard Burton broke up, just as she risked her career to champion the AIDS fight and just as she celebrated "the child in me" at her 60th birthday party in Disneyland, ET is the mistress of her own iconic, mythic-yet-mortal status - still bold, honest and unafraid, living life on her own terms."

I happened on your posting about Liz in this movie and after going through the replies don't see that you ever got a decent answer to your question. This movie was filmed before she had her hip replacements done. She was wheelchair bound at the time. The decision was made to make her the agent and everyone had to come to her in her bedroom to accomadate her disability yet include her in the film. I think it added to the character because everyone is always making fun of agents and their blood thristy ways so having one like this adds to the appeal. Enjoyed this movie but was hoping for better from everyone involved.