OH MY GOD...what a true American Hero! He came out of retirement to help solve this AIG crisis, and is doing it for ONE DOLLAR A YEAR!
Has anyone read the FINE PRINT on Edward Liddy's CONTRACT? Has anyone asked how much he is going to be paid in 2010 based on the clause in his CONTRACT that GIVES HIM A PERFORMANCE BONUS?
Now, in the minds of many, Mr. Liddy has become the personification of A.I.G.’s disaster.
On Wednesday, Mr. Liddy, 63, the man who was tapped for his behind-the-scenes financial savvy found himself at the center of public wrath of the President Obama, the Congress, and the American public, after revelations that he had approved the payout of lucrative bonuses to the very employees thought to have driven A.I.G. to its knees.
At the Congressional hearing, a horde of cameras and reporters awaited Mr. Liddy, subjecting him to the sort of limelight usually reserved for major felons or celebrities after an unfortunate night out.
But Mr. Liddy, who chatted with protesters as he entered the hearing room to testify before members of a House Financial Services subcommittee, repeatedly tried to make clear that he was not responsible for getting A.I.G. into this mess.
“Six months ago I came out of retirement to help my country,” said Mr. Liddy, 63, a former chief executive at Allstate insurance. “At the government’s request I’ve had the duty and extraordinary challenge of serving as chairman and chief executive officer of American International Group, or A.I.G.”
Mr. Liddy has no doubt questioned that decision on more than one occasion.