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A.I.G. Chief, Brought In During Bailout, Plans to Leave

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steven johnson Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-21-09 06:14 PM
Original message
A.I.G. Chief, Brought In During Bailout, Plans to Leave
Source: New York Times

The American International Group said that Edward M. Liddy was stepping down as chairman and chief executive of the troubled insurance conglomerate.
Mr. Liddy, who was brought in last fall to lead A.I.G. through a major restructuring after it was bailed out by the Federal Reserve, intends to stay on until the company picks his successor, A.I.G. said. Representatives of the Fed will participate in the search. The company has received more $180 billion in bailout assistance from the federal government.
Mr. Liddy has recommended that the company separate the position of chairman and chief executive into two separate posts, something often recommended by corporate governance specialists.


Read more: http://mobile.nytimes.com/2009/05/22/business/22aig.xml
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Lucky Luciano Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-21-09 09:14 PM
Response to Original message
1. Can't blame him...I wouldn't want to come out of retirement to
do that shit job either for no pay.
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Merlot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-22-09 12:34 AM
Response to Original message
2. He was just on 60 Minutes
And gave no indication that his tenure would be cut short. I wonder what happened?

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Bandit Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-22-09 08:17 AM
Response to Original message
3. Wonder how many MILLIONS he pocketed in his short stay there?
I believe a lot of people that caused our problems are getting huge rewards for their efforts.
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