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Thursday
Mar192009

« Bailout AIG Bonus Congressional Videos: It's Not Easy Being Ed Liddy (Links, Videos and Photos For 3-19-09) »

AIG Chairman and CEO Edward Liddy Testifies before Congress Wednesday, March 18th.

The above clip is Florida Democrat Alan Grayson questioning Liddy about the names of the executives who steered the AIG financial products division and all of AIG into virtual governemnt bankruptcy. The only name Liddy offers is Joseph J. Cassano and regular readers already know him well as the reprobate in charge of the London AIG FP division who earned in excess of $300 million writing unhedged credit default swaps CDS.  Fear not Jim Chanos says Cassano will be wearing an orange jumpsuit soon.

I will be surprised if Liddy survives two more weeks at AIG. Hand picked by Henry Paulson six months ago to lead AIG, he has no incentive to continue as the national pinata of taxpayer anger. Where's the upside? Why is he subjecting himself and his solid reputation as former CEO of insurance giant Allstate to these constant attacks?

For the record, Liddy's 2009 compensation for this abuse is a buck, one single, solitary and soon to be worthless dollar.

Do not misinterpret my sympathy.

Paul Kanjorski's opening comments.  The money quote from Kanjorski:

"I am sick and tired of hearing the administration and the Secretary of the Treasury say, 'I just found out about it.'" 

Kanjorski continues saying he has been aware of the pending bonus payments for more than 3 months.  It was a direct shot at tax-cheating Treasury Secretary Tim Geithner's claim to have first learned of the bonus payments on March 10th..


Liddy's opening statement.

 

Paul Kanjorski on Squawk Box Wednesday morning with Kernan and Quintanilla.

Edward Liddy should take responsibility for making a bad decision, says Rep. Paul Kanjorski, House Financial Services Committee Capital Markets Subcommittee chairman (D-PA).

DateThursday, March 19, 2009 at 3:51PM | Comment12 Comments | |

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Reader Comments (12)

"This whole display of political hackery on Capitol Hill begs one really big question. Why is Edward Liddy getting lectured when Joe Cassano is the guy who brought AIG Financial Products, and the world economy, to its knees??"

http://www.dailykos.com/story/2009/3/18/710179/-Why-Liddy-and-not-Cassano
March 19, 2009 | Registered CommenterDailyBail
He may have inherited the problem and not caused it...but I don't see him fixing it. He could have nipped this in the bud prior to March. You and I both know these asshats deserve much worse than a tongue lashing!
March 19, 2009 | Unregistered CommenterAin't Bullshittin'
March 18, 2009, 11:30 AM ET

AIG Hearing: Blogging the Morning Session



http://blogs.wsj.com/economics/2009/03/18/aig-hearing-blogging-the-morning-session/
March 19, 2009 | Registered CommenterDailyBail
Live-Blogging the AIG Hearing: Ed Liddy In the Dunk Tank.

Afternoon session.

http://blogs.wsj.com/economics/2009/03/18/live-blogging-the-aig-hearing-ed-liddy-in-the-dunk-tank/
March 19, 2009 | Registered CommenterDailyBail
Outstanding article.


Did Cassano and AIG committ fraud?

http://tpmmuckraker.talkingpointsmemo.com/2009/03/did_cassano_and_aig_commit_fraud.php
March 19, 2009 | Registered CommenterDailyBail
Larry King Interviews Edward Liddy

7 minutes March 15th.

http://beltwayblips.dailyradar.com/video/larry_king_interviews_aig_ceo_edward_liddy_full/
March 19, 2009 | Registered CommenterDailyBail
How the Fed Failed to Tell Obama About The Bonuses

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/18/AR2009031804210.html?wprss=rss_business/government


This is spin control. Timmy's last gasp at keeping his job. Read the following for the true account of Geithner's lies.

http://dailybail.com/home/bailout-aig-breaking-news-tim-geithner-might-not-survive-the.html
March 19, 2009 | Registered CommenterDailyBail
Joseph J. Cassano Is An Irresponsible Asswipe Who Deserves To Spend The Rest Of His Days In Federal Prison

http://dailybail.com/home/2009/3/4/bailout-aig-joseph-j-cassano-is-an-irresponsible-asswipe-who.html
March 19, 2009 | Registered CommenterDailyBail
Must See CNBC Bailout Videos: Jim Chanos Says We Will See Orange Jumpsuits Soon. Warning To Richard Fuld And Joe Cassano

http://dailybail.com/home/2009/3/6/must-see-cnbc-bailout-videos-jim-chanos-says-we-will-see-ora.html
March 19, 2009 | Registered CommenterDailyBail
25 Cartoons of the AIG bonus scandal.

Really good stuff.

http://dailybail.com/home/aig-bailout-humor-the-aig-bonus-scandal-in-cartoons.html
March 19, 2009 | Registered CommenterDailyBail
Paul Kanjorski is a disgrace. Politicians and Bankers alike are highly-functional psychopaths, narcissists, and schizophrenics. You will find few exceptions to that blanket statement.
March 19, 2009 | Unregistered Commenterspideydouble

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