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Entries in Edward Liddy (5)

Wednesday
May132009

Liddy: AIG Has Paid "Several Billions" Of Taxpayer Money Already

By Kayleigh Harvey - Talk Radio News Service

Edward Liddy, Chairman and CEO of AIG appeared before the House Oversight and Government Reform Committee today. Congresswoman Marcy Kaptur (D-Ohio) asked, “Have you paid the taxpayers back any of the money they have lent you to date?”

Liddy responded, “Yes.”

Kaptur: “How much?”

Liddy: “Several billion dollars”

Kaptur: “Several Billion?”

Liddy: “Yes”

Kaptur asked for a list of dates, sums to be submitted for the record. Liddy agreed.

Kaptur then questioned Liddy about his connections with Goldman Sachs which revealed that Mr. Liddy has shares to the market value of $3 million from Golden Sachs.
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Wednesday
May132009

Kucinich Accuses AIG Of "Defrauding" His Ohio Constituents

By Kayleigh Harvey - Talk Radio News Service

Edward Liddy, Chairman and CEO of AIG appeared before the House Oversight and Government Reform Committee today. Appearing frustrated and angry at Liddy’s responses throughout the hearing, Congressman Dennis Kucinich (D-Ohio), told Liddy that AIG’s behavior was “unacceptable.” Adding, “You cheated people who saved lives, who save our children, what are you going to do about this?”

Liddy said he would work with Congress and offered to meet with Kucinich after the hearing.

Kucinich told Liddy that until this matter is resolved “Congress is not going to let you go,” shouting that this was “unacceptable” behavior. He told Liddy that Congress “will keep calling you back here,” until this issue was concluded.

Kucinich agreed to meet with Liddy following the hearing.
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Wednesday
May132009

AIG Will Aims To Pay Back Taxpayers In 3-5 Years

By Kayleigh Harvey - Talk Radio News Service

Edward Liddy, Chairman and CEO of AIG appeared before the House Oversight and Government Reform Committee today. Congressman Brian Bilbray (R-Calif.) asked Liddy how long it would take to pay back taxpayer money.

Bilbray asked, “Are you hoping to be able to pay back the taxpayer before the ceiling falls in….How long will it take to pay the taxpayers back?”

Liddy replied, “Somewhere between three and five years. What makes the answer so difficult is how strong will the economy be worldwide and how strong will the financial markets be worldwide.”
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Wednesday
May132009

AIG Chairman Makes Assurances But No Certainties 

By Kayleigh Harvey - Talk Radio News Service

Edward Liddy, Chairman and CEO of AIG appeared before the House Oversight and Government Reform Committee today. Chairman of the Committee Edolphus Towns (D-N.Y.) asked Liddy whether he "could assure that AIG would not need any additional Federal money," and whether he "could assure that taxpayers would get their money back?" Liddy made "assurances" that efforts were being made, but no certainties that this would be the case.
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Wednesday
May132009

AIG Cannot Prevent Congress Seeing How Taxpayer Money Is Spent

By Kayleigh Harvey - Talk Radio News Service

Edward Liddy, Chairman and CEO of AIG appeared before the House Oversight and Government Reform Committee today. Chairman of the Committee Edolphus Towns (D-N.Y.) talked about AIG's new project, Project Destiny, which aims to help the financially troubled company get back on track, with Liddy. Asking for more details on the plan, Liddy told Towns he was unable to provide it as it contained "commercially sensitive" information.

Towns asked Liddy, “Do you honestly believe you have a right to prevent Congress from reviewing how the taxpayers money is being spent?”
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