AIG Still Ridin’ Dirty
AIG CEO Edward Liddy defended his enfeebled company on Capitol Hill Wednesday, yet claimed that even $180 billion in taxpayer money has only "reduced, but not eliminated the systemic risk [toxic assets] that AIG presents to the global financial system."
AIG CEO Edward Liddy defended his enfeebled company on Capitol Hill Wednesday, yet claimed that even $180 billion in taxpayer money has only “reduced, but not eliminated the systemic risk [toxic assets] that AIG presents to the global financial system.”
WAIT BEFORE YOU GO...Marketwatch:
American International Group Inc. Chief Executive Edward Liddy on Wednesday defended the embattled insurer by describing steps it has taken to reduce its size and risk to the global financial system.
“We have a plan to repay the American taxpayer. AIG will emerge as a much smaller, more nimble company,” said Liddy at a House Oversight and Government Reform Committee hearing on Wednesday. “The financial products unit will not exist. We have reduced, but not eliminated the systemic risk that AIG presents to the global financial system.”
The hearing focused on the collapse and federal bailout of the mega-insurance company.
This year, the ground feels uncertain — facts are buried and those in power are working to keep them hidden. Now more than ever, independent journalism must go beneath the surface.
At Truthdig, we don’t just report what's happening — we investigate how and why. We follow the threads others leave behind and uncover the forces shaping our future.
Your tax-deductible donation fuels journalism that asks harder questions and digs where others won’t.
Don’t settle for surface-level coverage.
Unearth what matters. Help dig deeper.
Donate now.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.