"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
AIG CEO Warns: 'Dire Consequences' If Company Fails
Submitted by Christopher Lempa on Thu, 2009-03-19 17:00
?Edward Liddy, CEO of American Insurance Group, warned a congressional panel Wednesday of 'dire consequences' if the bailed-out insurer is allowed to fail. Liddy's warning came in response to questioning by Rep. Paul Kanjorski (D-Penn.), chairman of the Financial Services subcommittee, who asked Liddy if he fully understood the consequences of the decision to pay $165 million in bonuses to AIG executives.? (Video)
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