Chicago Sun-Times
The scoop from Washington

AIG pleads case to the White House. Read AIG Chairman Liddy letter here.

| 6 Comments

WASHINGTON--AIG Chairman Edward Liddy explains in a letter to the White House that he finds the bonus millions paid to AIG executives distasteful but argues he can't do anything about it. After all, insurance companies are supposed to honor contracts, that's what the business is about, Liddy writes. The Chicago Sun-Times has obtained copies of the Liddy letter and an AIG document describing the compension plan.

6 Comments

This is from AIG's own website. I have read the code of conduct and I am sure that the members of the Board would appreciate any feedback from the major shareholder- US Taxpayers.


To contact the non-management members of AIG's Board of Directors as a group or the other members of the Board of Directors with respect to concerns or other matters you may do so:

By writing: c/o Special Counsel and Secretary to the Board
American International Group, Inc.
70 Pine Street, 27th Floor
New York, NY 10270

Email: boardofdirectors@aig.com

All concerns will be addressed and complaints will be processed promptly.

well, isn't it interesting....like all companies honor their contracts?!...hahahah! ask any union person on strike, etc. if the obama group would have parcelled out as much money divided by all homeowners in this country (i.e. every homeowner gets a 4 percent home loan, plus $20,000 refunds for all taxpayers)...i am pretty sure the money would have been better spent, better put to use, less headaches, and the people who really needed it would use it appropriately! no one who makes more than $200,000 a year needs a huge bonus for driving a company to bankruptcy! shoot, mcdonald's won't keep employees who can't flip hamburgers fast enough! sigh!

Bonuses!?! The arrogant, evil bastards. &!!$#%@! It's insane that any of the AIG execs involved have jobs at all. Why would we want to "retain" the most spectacularly incompetent, crooked execs in US business! If they're not fired, we should revive the guillotine!
Let AIG fail to

Ok, so AIG is in a contractual bind about giving the bonus and raises to its CEO's and employees. There is a solution that may be reasonable to many.

Let AIG go ahead and give the money they are bond by contract to give out. However, they should IMMEDIATELY REPAY the loans and stimulus money they have gotten from the government recently.

No excuses, no "We don't have it anymore, its already been spent". Just give back the money it had its hand out for and find some other way to keep the company running.

By doing this, the money AIG received from the government can be spent elsewhere and where its more critically needed. Like Veterans, schools, more employment for those who have lost their jobs within the last four years, homeless shelters and refinancing some of the forclosed homes so many people have lost and who are now homeless.

AIG...give the money you got from the government back and salvage your company and greedy CEO's on your own.!!!

"Talk to The Hand!!" Your "days in the sun" are at an end! If the rest of us must sacrifice, and face reality...so should AIG...period.

I really think that the CEO'S from AIG need to repay that money back just like the Auto workers all money loaned out to them will be repaid with in the next two years. Also why don't the govn. put higher requirements on these bailouts, check them out before they can get any money from the tax payers. I think everyone needs to send a personal message to Edward Liddy e-mail address, to let him know he should resign. And payback the money. I would like to see other company's stand up and speak out by taken away their business from AIG.

Leave a comment

Get the Sweet widget

More widgets

Video

Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

Stay in touch

About this Entry

This page contains a single entry by Lynn Sweet published on March 15, 2009 4:58 PM.

President Obama official schedule and guidance, March 15, 2009. Focus on small business was the previous entry in this blog.

In case of AIG bonus payments, some contracts made to be broken is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.