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| User Info | Question For Congress: Liddy and AIG in forum [Ticker] | |||
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Genesis Posts: 71422 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1060-Q....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-22 09:11:58
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Txin1880 Posts: 1268 Incept: 2009-02-25 
Texas
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Lets not forget the trivial amount over and above one dollar that he also recieved . . . Libby is seeing execs swinging from lamp posts in his dreams I think . . . AIG Gave Liddy $460,000 to Cover Legal, Housing Costs By Hugh Son April 30 (Bloomberg) -- American International Group Inc. Chief Executive Officer Edward Liddy, who receives $1 a year in salary, got compensation valued at about $460,000 last year to cover housing, travel, taxes and legal fees following an emergency bailout of the insurer. Liddy, named CEO of New York-based AIG less than a week after its near collapse in September, got benefits including $38,368 for a New York apartment and $162,686 for legal counseling, the firm said today in a regulatory filing. His expenses included $47,578 to reimburse commercial flights between New York and Chicago, $180,431 to cover tax obligations and $31,348 tied for car services, AIG said. The payments “relate directly to Mr. Liddy’s volunteering for immediate service in New York, notwithstanding that he and his family live in Chicago,” according to the filing. AIG has faced mounting pressure after its September bailout to scale back on pay and perks for executives. President Barack Obama last month called some of AIG’s bonus payments an “outrage,” and New York Attorney General Andrew Cuomo has investigated the firm’s compensation arrangements. The insurer has required four rescues valued at $182.5 billion, and owes more than $40 billion on a Federal Reserve credit line. Liddy declined to accept equity grants for compensation, AIG said, canceling what was to be the largest component of his pay under an arrangement disclosed on Nov. 25. Paula Reynolds, the former CEO of Safeco Corp. who Liddy picked to lead AIG’s restructuring, is getting a $900,000 salary this year and worked “on a voluntary basis” last year. The insurer reported compensation according to U.S. Securities and Exchange commission rules that recognize stock and option awards from prior years. To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net Copyright 1993-2009 Karl Denninger. All Rights Reserved Email the AKCS Owner ---------- Don't just starve the beast, slit it's throat. "Blow up your TV, throw away your paper. ~ John Prine
2009-05-22 09:29:01
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Berkleyreindeer Posts: 560 Incept: 2008-07-22 Minneapolis , MN
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if liddy wants to perform a public service, he should write a 3 page memo about how to actually clean up AIG. 1: file for 3 trillion shares to be issued 2: fire 2/3 of all sales staff after changing policy to reflect no employee buyouts or payouts. 2 weeks and vacation paid. call it modified runoff. 3: refuse to pay interest on all toggle bonds 4: if this does not work in 12 months, file for BK. 5: grab microphone and expose geithner, paulson, bernanke as the lying sons of bitches they are. explain in detail the rationale for screwing the taxpayer to the benefit of counterparties. explain why bernanke belongs in jail from an insider's perspective. that would be a public service. oh, and tell each and every congressman who asked an elementary question like "who is on your board of directors?" to shut her pie hole. ---------- It'll get worse. Just wait.
2009-05-22 10:04:54
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Dji Posts: 720 Incept: 2009-04-21
Fleming Island Online
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was it not reported that GS would have been in trouble if they did not get CDS money from AIG? And if he owned or bought GS stock when he knew that the Fed was going to funnel billions straight to GS isn't that insider trading and  time!!!
---------- What goes up Must come Down- Alan Parsons Project THE TRUTH HURTS! -Dji
2009-05-22 10:34:52
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Genesis Posts: 71422 Incept: 2007-06-26
KD^2
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Dji I believe Liddy had held the GS stock for quite some time. However, is it not clear that while he might not have gotten a salary, he sure got benefit from AIG funnelling that money to GS in the form of the stock price move, no? Not all "compensation" is in cash. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-22 11:31:38
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Dji Posts: 720 Incept: 2009-04-21
Fleming Island Online
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And that's OK? Or was he just going along with the scam and profiting at taxpayers expense these guys must be above the law ---------- What goes up Must come Down- Alan Parsons Project THE TRUTH HURTS! -Dji
2009-05-22 11:43:39
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Ssg263 Posts: 100 Incept: 2009-01-07 
NY
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http://zerohedge.blogspot.com/2009/05/ch.... the fraud continues....
2009-05-22 11:49:29
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Etz3l Posts: 9103 Incept: 2007-06-26
Online
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Quote:The AIG chief owns 27,129 Goldman Sachs shares, the bank said in a regulatory filing last year. Liddy got most of the shares over five years as a board member of New York-based Goldman Sachs. ---------- Treating the symptoms of financial corruption isnt the same as removing the causes.
2009-05-22 12:15:16
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End_the_bubbles Posts: 91 Incept: 2009-03-25 CA. Online
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Karl, It was actually $12.8 Billion Goldman received from AIG, not $10B.
2009-05-22 12:23:02
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Genesis Posts: 71422 Incept: 2007-06-26
KD^2
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Ok, ok, what's $2.8 billion between friends?
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-22 13:28:18
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End_the_bubbles Posts: 91 Incept: 2009-03-25 CA. Online
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Not much anymore. Perhaps about a week's worth of Wall St. bonuses for all the fine "work" they do..... <<<Ok, ok, what's $2.8 billion between friends? >>>
2009-05-22 14:22:12
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