Edward Liddy and AIG must pay
There will be no peace these days for AIG CEO Edward Liddy. Even if he claims that he shares our rage.
Michael McAuliff and Helen Kennedy report for the New York Daily News that Liddy has told Congress that he’s asked his employees to “give up part of their bonuses,” and that he “fears for the lives of those who refuse.”
Particularly if Senator Grassley sets the sword before them… but in all seriousness, Liddy says that AIG has received letters to the effect that “all the executives and their families (who refuse) should be executed with piano wire around their necks.”
Be an example for your employees, Liddy
“I’m just really concerned about their safety,” he said. And I think Liddy should be held accountable for authorizing that the bonuses be issued. The disgraced CEO claims he has asked every AIG employee who received a cash advance bonus of $100,000 or greater to return at least half of the money.
“I’ve asked the employees to step up and do the right thing,” Liddy said. Apparently because he is pathologically adverse to doing it himself.
Play ball!
Democratic Rep. Paul Kanjorski of Pennsylvania, who chairs the House Financial Services Securities subcommittee, assured Liddy “we do not intend to harass you here,” but followed up by saying that “I assume there isn’t anyone here today who doesn’t want their five minutes with Mr. Liddy.” Batter up.
New York Democratic Rep. Gary Ackerman insisted it is time to end the outrage. “I’m going to give you some old school advice: pay the $165 million back. Give that back. Cut your losses. It just ain’t worth it.”
Your lies are distasteful, Mr. Liddy
The completely disconnected Mr. Liddy claims he understands the anger of taxpayers. He finds the bonuses “distasteful” and is attempting to convince somebody that taxpayers’ patience is “wearing thin. ” Of course, we know that to be a distasteful lie. Our patience has snapped.
McAuliff and Kennedy point out that people were lining up early to make sure they’d have a seat at the hearing. Protesters were there at 5 a.m., ready with AIG “go directly to jail” signs. They held up the signs during testimony, which prompted Rep. Kanjorski to call for them to be confiscated. This opened the way for one of the lighter moments of the day, when Democratic Re. Barney Frank of Massachusetts said, “considering your method of dealing with this, it’s a good thing no one was wearing a T-shirt.”
Do NOT send Liddy and his jokers to jail
Then they’d CONTINUE to be a burden to taxpayers. AIG executives need to work for us in whatever usefully degrading manner is appropriate, and they need to do so until they begin to see the magnitude of what they are doing to this country. Don’t make vacation plans, Liddy…
We must not become murderers in our search for justice. Please. All we have to do is make sure the punishment is lasting and memorable. Do you have any ideas?
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There were a lot of people here who dropped the ball. Plain and simple. Clearly this is fraud, but they will most likely get away with it based on a technicality. The silencing of the protesters irritates me. Let the people speak and then LISTEN to the them!
Death threats aren’t a really mature thing to do, and in this day and age, you never know who is just being a jerk, and who is actually psychotic enough to be serious. That said, AIG was going to have to expect some sort of back lash. You can’t hand out bonuses after your enormous company almost topples over, and you need the government to keep you afloat. However, if they can prove that the funds for the bonuses didn’t come from any government funds, then I’d say OK, it’s the company’s money, but if not…government employees don’t get bonuses.
Of course people are dismayed about this lets-play-with-taxpayer-money type event. There is no justifying their petty financial dealings. You can’t claim that you’re in a desperate financial state and need immediate help only to take the help you get and use it towards unreasonable, personal advantage. Not only is it disturbing, it’s absolutely fraudulent!
This greed is what has lead the world economy into the worst recession the world has ever seen. And to think the American public who are suffering have to pay for the bonuses for these “waste of air” humanoids, it makes me sick to my stomach.