Wednesday, March 18, 2009, AM | Leave Comment
Yahoo ran a story today by Eamon Javers asking AIG’s Liddy 5 questions. AIG CEO Edward Liddy will step into the public maelstrom Wednesday over $165 million in bonuses paid to his company’s executives when he testifies on Capitol Hill.
The payments, which go to some of the same executives whose risky financial schemes caused the collapse of the company, have provoked intense voter anger this week. And all of that wrath will be trained squarely on Liddy when he takes his seat at 10 a.m. before the House Financial Services Subcommittee.
For the members of Congress on the committee, Liddy’s appearance offers a chance to vent their anger before a national television audience over the more than $170 billion in bailout funds the company has received.
Now the questions.
1. Can AIG survive without additional government money?
My answer is Yes and No.
Yes, if they straighten up their act.
No, another half-a-trillion will not help if they want to remain in their status quo. The same state of affairs will not work.
2. What did Geithner know and when did he know it?
That’s not the question. That’s politics. Leave politics out of it. The only party responsibel is AIG C-level executives and the board of directors.
3. Can’t AIG do anything to pay back the taxpayers?
That’s not taxpayers’ money. Only IRS has the taxpayers’ money. Look under its mattress, behind the firewall.
4. Are you sure you really want this job?
Of course he is sure. He won’t be sitting there if he wasn’t sure. However, I would leave him alone. He is only the Chief Executive Officer. The CEO has nothing to do with nothing.
5. Was Goldman Sachs treated any differently in the AIG bailout than any other investment bank?
What difference does it make? Leave the dead alone. It’s a sin to dig up graves. If not sure, ask the Pope. That’s then, this is now.
Moral of the story
NBC: What’s the show about?
Constanza: It’s a show about nothing.
Read the story in full: 5 questions for AIG’s Edward Liddy
What do you think?
This is not a good question to ask in AIG case.