Blog
Congress to AIG: We don't trust youMembers of the House Oversight Committee lash out against the bailed out insurer, as it cautiously presents its restructuring plan
CNN Money,
May 13, 2009
Rep. Patrick McHenry, R-N.C., also questioned Liddy about when Treasury Secretary Tim Geithner first learned about the bonuses.
McHenry wanted to know if Geithner, when meeting with AIG as President of the New York Fed in late 2008, discussed the bonuses with Liddy.
"You met with Geithner in September, October, November, but did not mention the word 'bonus?'" asked McHenry.
"No," replied Liddy.
NEW YORK - The CEO of bailed-out insurer American International Group told Congress on Wednesday that the company has made "substantial" progress in its restructuring efforts, but lawmakers said they wanted more to show for it. "We are hearing, 'Trust us,' but we are not willing to let $180 billion go just on trust," said Rep. Edolphus Towns, D-N.Y., chairman of the House Oversight Committee. "We will question; we will inquire; we will verify." Continue reading story here: http://money.cnn.com/2009/05/13/news/companies/aig/
|