AIG

The Facts:

WASHINGTON – Edward M. Liddy, chairman and CEO of American International Group Inc. since last fall, has become the reluctant defender of princely employee bonuses that members of Congress — and much of the American public — find indefensible.

AIG, the giant insurance company that has received $170 billion in government assistance, is paying more than $200 million in bonuses to keep employees from fleeing its troubled financial products division. On Wednesday, Liddy was to pull up a chair at a congressional witness table and take the heat.

The retention payments — ranging from $1,000 to nearly $6.5 million — were not his idea. Liddy himself is not getting a bonus. The deals were cut early last year, long before then-Treasury Secretary Henry Paulson asked Liddy to take over the company. "I do not like these arrangements and find it distasteful and difficult to recommend to you that we must proceed with them," Liddy wrote to the current treasury secretary, Timothy Geithner, over the weekend.

But the payments went out. Congress is in a lather and wants the money back. And Liddy, who had been scheduled to testify about AIG before the bonus story took root, is a timely target. The clamor over compensation overshadowed AIG's weekend disclosure that it used more than $90 billion in federal aid to pay out to foreign and domestic banks, including some that had multibillion-dollar U.S. government bailouts of their own. AIG is the single largest recipient of government assistance — a company whose financial transactions were so intricate and intertwined that it was considered simply too big to fail. - Yahoo News

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My Issue:

Demand AIG to repay our TAX dollars immediately and Let the Muther's Rot!