AIG Chief: I'm Angry About Bonuses, Too

Liddy blames 'cold realities of competition,' legal issues
By Kevin Spak,  Newser Staff
Posted Mar 18, 2009 9:57 AM CDT
Edward Liddy, chairman and chief executive officer of American International Group, speaks in Hong Kong, Dec. 11, 2008.   (AP Photo)
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(Newser) – Lawmakers read Edward Liddy the riot act today over AIG’s recent bonuses, CNNMoney reports, and the company’s CEO was expected to say he, too, found them “distasteful,” but felt he had to disperse them. “We have to continue managing our business as a business, taking account of the cold realities of competition,” he said, according to prepared remarks released ahead of his appearance on Capitol Hill, adding that certain “legal obligations” came into play.