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.
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There’s a crucial institution in Washington that few in the media seem to be paying attention to, even as President Trump quietly makes it his own.
A look at the day's political happenings, including a bipartisan agreement reached on immigration reform and Obama and Clinton give a joint interview on "60 Minutes." A look at the day's political happenings, including a bipartisan agreement reached on immigration reform and Obama and Clinton give a joint interview on "60 Minutes."
A look at the day's political happenings, including AIG's decision on whether to join a lawsuit against the government over the financial crisis bailout and the White House's response to a petition to deport Piers Morgan.
A look at the day's political happenings, including Gabrielle Giffords' new PAC, Elizabeth Warren admonishing AIG and Nate Silver talking politics and data analysis on Reddit.
In the ultimate act of corporate greed, the insurance giant--which received a bailout from the government to the tune of $182 billion--is showing what a truly unscrupulous and morally bankrupt organization it is by mulling whether to join a lawsuit against Uncle Sam over unfair bailout terms.
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