Irate Congressman Demands Resignation of AIG CEO

[DogPoundPup]

Source: ABC News

A leading critic of AIG today demanded the company's CEO resign in the wake of the disclosure of yet another "junket" at a resort spa. In a letter to AIG's CEO Edward Liddy, Congressman Elijah Cummings (D-Md.) said the decision to hold an event for independent financial advisors last week at a luxury Phoenix resort was "outrageous" given an earlier pledge by Liddy to curtail such events.

Cummings wrote that AIG can begin to restore its trust with Congress "by accepting your resignation from the positions of chairman and chief executive officer."

Reporters for abc15.com (KNXV) caught top AIG executives on hidden camera at a secretive gathering last week at the luxurious Pointe Hilton Squaw Peak Resort in Phoenix. AIG instructed the hotel to make sure no company logos and signs were seen on the property, according to a company spokesman.

In his letter, Cummings questioned how the Phoenix event could have taken place given Liddy's earlier assurances that "not one cent of taxpayer dollars" would by used to pay for such events. The decision to hold the event while AIG was asking for billions of dollars more in federal loans was "even more shocking", wrote Cummings.

Read more: http://abcnews.go.com/Blotter/WallStreet/story?id=6230818&page=1

[OhioChick]

1. Now, this is what I like to hear!

:thumbsup:

[Hugin]

2. Should've asked for voting rights with that burger guys.

So called 'preferred stock'.

[Why Syzygy]

3. I think their books should be audited before they get another dime.

Remember Enron? Arthur Andersen? Why are there no requirements to open the books when they stand in line for handouts? This should apply to GM or ANYONE else. If I want to "make arrangements" with the IRS, I HAVE TO disclose every detail of my personal finances.

[natrat]

4. sounds like an elaborate and bipartisan plan to rip the taxpayer off thanks barney frank you whore

[Tandalayo_Scheisskopf]

5. Hey Elijah! I have an idea!

Instead of nasy notes, just do what most of us would like to see: Fly to AIG's hometown, go to Liddy's office, barge in and choke him until his eyes pop out on 12" stalks.

A grateful public will have your back.

[JohnnyRingo]

6. It's getting so bad, maybe it's time to retire the name Liddy

That moniker should go the way of other historical names, like Hitler and Manson.

Take the advice of the Hitmars and Masons, Lindy will be a better spelling in the future.


(Advance appologies to any DUers, I was just being humorous, I didn't really think you're related to murderers. Not even you Donny Rumsfielder)

[hvn_nbr_2]

7. I have suggestions for more resignations

Everybody at ABC News should resign and be replaced by people from local ABC affiliates, such as those who reported this story, who actually understand the concept of journalism.

[frylock]

8. they're laughing at you, elijah..

nice effort, but i'm sure they're laughing their collective asses off at your silly demands. you numbnuts voted to approve the handout despite knowing full well shit like this would occur. you took them at their word, and now you and your colleagues look like a bunch of goddamned idiots.

[Peace Patriot]

9. I love this part...

"Reporters for abc15.com (KNXV) caught top AIG executives on hidden camera at a secretive gathering last week at the luxurious Pointe Hilton Squaw Peak Resort in Phoenix."

This is what reporters are supposed to be doing--catching the fuckers who have looted our country, and other fuckers who have 'disappeared' billions in Iraq, tortured prisoners, slaughtered 100,000 people in one week of "shock and awe" bombing, destroying FEMA, the EPA and the U.S. military, et al--on hidden camera, revealing their hideous true selves and conspiring against us.

It is what they haven't been doing for eight years, because their distant rightwing CEO 'news' monopoly bosses were profiting from all the crime, and engaging in crime, and lying about stolen elections, and conspiring against us.

How these KNXV reporters escaped their corporate loony bin and did some actual reporting may be a great story all by itself. That AIG would be holding secret meetings at a luxury resort doesn't surprise me at all. What did we think this Financial 9/11 they just pulled off was all about anyway? But that it was covered and exposed by enterprising reporters is major news!

[MichiganVote]

10. The rich, the corporations, the Bush Bandits are just laughing at all of us.

[Danchi]

11. AIG

Now if Congress will grow some balls and do something about the bonuses that are being paid out of the bailout money.

[Buns_of_Fire]

12. Why stop there?

Offer Liddy, all of his vice-presidents, and the entire board of directors the same agreement:

1. I hereby resign my position with AIG, effective immediately;
2. I release the company from the obligation of any further payments to me, be they in the form of stock options, bonuses, or so-called "Golden Parachutes" -- with the exception of precisely one-half (1/2) of my normal yearly salary, prorated to today's date, minus any portion already disbursed;
3. All assets on the books as belonging to AIG, or purchased for my exclusive use, will be immediately returned to AIG control, including any and all leases obtained in my behalf;
4. All memberships to country clubs and other professional organizations which were obtained in my behalf will be cancelled immediately;
5. I enter this agreement freely and of my own will, in exchange for immunity from federal prosecution for malfeasance and dereliction of duty to the stockholders.

Sign here, kids.

And as Don Vito Corleone would say, "Either your signature or your brains will be on that agreement...":evilgrin:

[4_TN_TITANS]

13. 'Congressman then votes to give AIG more money'

I'm sorry, but these congresscritters have zero clout with their corporate masters. But don't take my word for it, watch as AIG escapes accountability and it's executives strap on their golden chutes.