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MONDAY, NOVEMBER 23, 2009
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NEWS ABOUT: Edward Liddy

Edward Liddy stories: 16 news summaries

 Liddy to Leave AIG 


May 21, 09 4:28 PM CDT
(Newser) - AIG chief Edward Liddy is stepping down after eight months on the job, the Wall Street Journal reports. The government appointed Liddy chairman and CEO last fall after the feds bailed out the insurance giant. Liddy recommended splitting the job into two roles and will remain until his replacements are... More »

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Wall Street • CEO • AIG • insurance industry • Edward Liddy

AIG's 2008 Bonus Pool Rises to $454M

Company gives congressman the biggest figure yet

May 5, 09 6:04 PM CDT
(Newser) - Lawmakers and journalists keep pressing AIG about how much it paid out in bonuses in 2008, and the number keeps getting bigger, reports Politico. In response to a query from Rep. Elijah Cummings, the company now says it paid $454 million, about 4 times the figure it told Politico in... More »

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Congress • House of Representatives • AIG • bonuses • insurance industry • Edward Liddy • Wall Street bailout • Elijah Cummings • TARP

OPINION

AIG Employee Tells Liddy:
You Betrayed Us

VP's resignation letter rips cowardly CEO, grandstanding pols

Mar 25, 09 9:27 AM CDT
(Newser) - Though he says he’s blameless for the mess that brought down AIG, and worked 14-hour days at $1 a year to help dismantle the insurer, executive Jake DeSantis feels “betrayed” by CEO Edward Liddy—and lets him know in a resignation letter published by the New York Times.... More »

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executive compensation • AIG • bonuses • American International Group • Edward Liddy • financial crisis • grandstanding • Jake DeSantis

 Ex AIG Boss: It's Not My Fault  

Says he doesn't back retention bonuses

Mar 20, 09 8:31 AM CDT
(Newser) - AIG’s former CEO tells CBS that the bonuses now sparking national outrage would not have happened under his watch. Hank Greenberg, ousted in 2005, said he doesn’t back such retention bonuses, blamed the firm's collapse on the "stupidity" of his successors, and thinks the current CEO should... More »

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CBS • AIG • Hank Greenberg • bonuses • bailout • Edward Liddy

OPINION

 Hill Grilled the Wrong AIG Guy 


Mar 19, 09 12:44 PM CDT
(Newser) - Edward Liddy’s much-ballyhooed testimony yesterday—Chris Matthews billed it as “Watergate Redux”—didn’t wind up accomplishing much, “aside from revealing congressional ignorance of all things financial,” Daniel Gross writes in Slate. Yes, Liddy currently runs the reviled AIG, but he wasn’t running it... More »

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Congress • Chris Matthews • testimony • AIG • Hank Greenberg • Martin Sullivan • Edward Liddy • grandstanding

OPINION

Anger? Now That Would
Be a Bonus

'Baby' Geithner, Obama should be more worked up over AIG: Collins

Mar 19, 09 10:28 AM CDT
(Newser) - Thank meek Tim Geithner for the wrath coming from the New York Times today. “We need a Treasury secretary so terrifying that if you were stuck in an elevator alone with him, you would just hand over your wallet,” Gail Collins writes. “And I’m totally angry... More »

MORE ABOUT:
Charles Grassley • AIG • Edward Liddy • financial crisis • President Obama • Timothy Geithner

(Newser) - AIG CEO Edward Liddy faced the music today, telling a House subcommittee he has asked employees who received generous bonuses to give at least half of the money up, and some have already agreed to do so. Liddy jousted with Barney Frank, who threatened to subpoena the company after Liddy... More »

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AIG • bonuses • Barney Frank • Edward Liddy

AIG Chief: I'm Angry About Bonuses, Too

Liddy blames 'cold realities of competition,' legal issues

Mar 18, 09 9:57 AM CDT
(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... More »

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Congress • testimony • AIG • Edward Liddy

OPINION

 AIG CEO: Bonuses 
 'Distasteful,' Necessary 

Liddy says paying employees will help taxpayer in long run

Mar 18, 09 6:23 AM CDT
(Newser) - AIG's $165 million bonus payout has produced "a palpable wave of anger," admits Edward Liddy, the insurance giant's government-appointed CEO. But in an op-ed for the Washington Post, Liddy says that paying employees now will prevent "undue risk" and help AIG wind down the most dangerous positions... More »

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executive compensation • AIG • bonuses • bailout • Edward Liddy • financial crisis • credit default swap

(Newser) - AIG chief Edward Liddy has the not-so-distinct pleasure of testifying before Congress tomorrow just as rage at his company is reaching a full-throated roar. The House and Senate seem to be in a race to see who can recover the $165 million in bonuses faster, the Hill reports. If AIG... More »

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Wall Street • insurance companies • AIG • bonuses • bailout • Edward Liddy

 Officials Rage 
 Over AIG Payments 

Insurer reveals who received billions in bailout funds

Mar 15, 09 8:20 PM CDT
(Newser) - Facing lawmakers' fury over massive executive bonuses, AIG revealed today where it shuttled most of its bailout money, the Wall Street Journal reports. About two-thirds of AIG's $173 billion bailout flowed straight to banks like Goldman Sachs and Société Générale—and other companies and municipalities—to pay... More »

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AIG • banks • Edward Liddy • Wall Street bailout

(Newser) - Record-breaking losses and $170 billion in federal loans haven't curbed AIG's plan to pay out $165 million in executive bonuses, the New York Times reports. Treasury Secretary Timothy Geithner called up AIG chief Edward M. Liddy to halt the payments, and the company agreed to alter some—but Liddy said... More »

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AIG • bonuses • bailout • Edward Liddy • Timothy Geithner

 AIG CEO Cuts His Pay to $1 

Edward Liddy gives up his salary and bonuses, others expected to follow

Nov 25, 08 12:00 PM CST
(Newser) - As Congress continues to bail out corporate America, CEOs are canceling bonuses and cutting pay for their top executives—but no one has come close to AIG top executive Edward Liddy, reports the New York Post. The CEO, who took over the troubled insurance company in September, will take home... More »

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AIG • corporate America • corporate execs • Edward Liddy • financial crisis • Wall Street bailout

Feds Up AIG Aid to $150B; Insurer Posts $24.5B Loss

US scraps insurer's original $123 billion package as company's struggles continue

Nov 10, 08 5:22 AM CST
(Newser) - The $123 billion the US pledged to foundering insurance giant AIG will grow to at least $150 billion, reports the Wall Street Journal, as the company continues to hemorrhage money. AIG, which today reported a loss of $24.5 billion in its most recent quarter, will get more cash and... More »

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AIG • Treasury Department • bailout • Edward Liddy • financial crisis

 Shareholders Push AIG 
 to Avert Takeover 

Sale of assets + infusion of capital = no government role

Sep 19, 08 4:26 PM CDT
(Newser) - In an attempt to head off the federal government's acquisition of 80% of AIG, the insurance giants' big shareholders are pushing the company to repay the government's loan quickly, the Wall Street Journal reports. Washington is on the hook for up to $85 billion under a deal struck this week... More »

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AIG • bailout • Edward Liddy • financial crisis

 New AIG Chief Plans to
Carve Leaner Corporation  

Liddy will sell some assets to pay Feds

Sep 19, 08 2:18 AM CDT
(Newser) - The new CEO of beleaguered giant American Insurance Group plans to trim the company, selling some assets to raise capital and pay back the government following its $85 billion bailout, reports the Wall Street Journal. "There will be a company at the end of this," vowed Edward Liddy,... More »

MORE ABOUT:
Boeing • Goldman Sachs • Henry Paulson • AIG • Allstate • American Insurance Group • Edward Liddy • International Lease Finance Corp. • financial crisis

16 Stories


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