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March 2nd, 2009
05:27 PM ET

AIG chief cites 'real progress'

AIG CEO Ed Liddy explains why the U.S. taxpayer and the government should pay to help AIG afloat.


Filed under: Ali Velshi • Bailout Turmoil • Economy • Finance • Wall St.
soundoff (11 Responses)
  1. Wardell katrina survivor

    The head of AIG, is a crook,placed there by George Bush, to protect their investments, and someone needs to investigate. Why are some banks getting paid twice, first through direct payment, and again through AIG, something really stinks about this company,and its dealings,and theres noway the London office, who caused this mess, should be getting bonuses, contract or not.

    March 16, 2009 at 9:43 pm |
  2. Sherry

    The Government must stop million's of dollars in Bonus payment that AIG announced recently. Contractual bonus payments are all nonsense and will not stand legality test if Trial judge is conscious of the fact that bailout money will be used to reward failure. This is outrageous 360 degree. Paulson and kashakari must be behind bars for giving blank check to AIG.

    March 16, 2009 at 12:56 pm |
  3. Marty

    OK, accountability & transparcy.............I want to see name, address & phone #'s of everyone who is getting this $165 Million in bonuses. That is what he said he would do, right. I want to send them "Thank You" cards.

    March 15, 2009 at 2:52 pm |
  4. terrence

    This entire situation is tied to "creative risk taking" and free markets. Innovative is what the buzz word must have been during the beginning of this all. My question is simply this Ali. Are there any insititutions out there anywhere in the world that stayed out of feeding and buying frenzy create by these toxic mortgages? If you can find any Ali please profile them on your show because I want to know who they are, the nation needs to know who they are. Americans are also scared because we don't see any stories about ANY company or institution that could be looked at as a ahiny example of what a company or CEO that was smart enough to apply "If it's sounds too good to be true then it probably isn't approach probably at great risk to their own positions in a company." I would like to see you interview those people if they are out there, they are probably people that we would never otherwise know or hear about. If you can't then it goes to show that performance based salaries and benefits packages made it impossible to stop what happened.

    March 3, 2009 at 1:27 pm |
  5. Benjamin Epstein - NY

    It is clear that most of AIG's losses are from the Credit Default Swaps and their contractual terms with counter-parties. In business, I have always known that contracts can be changed given the circumstances of the day. Why can't the marked-to-market, payout, and other terms of these contracts be changed or even annulled by government fiat? Why can't the government step in and determine who gets paid out and not? Why should we waste taxpayer money on the speculative positions of hedge funds who bought, resold, and reshuffled these CDS contracts with AIG? Bold times call for bold actions by government - not just writing blank checks and making it sound like a bold move.

    March 3, 2009 at 12:38 pm |
  6. Art

    What a snow job!!! How can anyone believe any thing coming out of Mr.Libby's Mouth!!! This guy and his whole crew should be in the unemployment line!!! How dare he ask for my money!!! Lets take back the USA people!!!

    March 3, 2009 at 10:54 am |
  7. Michael "C" Lorton, Virginia

    Right! And if you believe this guy--well Elvis Presley is still alive in New Jersey working at Safeway. Not buying it!!

    March 3, 2009 at 9:46 am |
  8. JC- Los Angeles

    Hold on, I'm laughing so hard I just fell off my chair ; I thought I just read that the AIG chief cited "real progress." Huh? Say what? Come again?

    Tears are now streaming down my face from belly laughing so hard at anything from the mouth of a corporate executive.

    I believe last week, Ken Lewis, the hack CEO of Bank of America who is widely known for pimping out his company, employees and shareholders for taxpayer cash, said that "Merrill Lynch fit right into Bank of America's sweetspot."

    Huh? Say what? Excuse me? You can't make this stuff up; American executives are the funniest hacks to walk the planet.

    March 2, 2009 at 7:32 pm |
  9. Joe G. (Illinois)

    So then… We can agree that aside from a lot of jargon and some more of that Obama Style Smoke in the Air that America has recently come to love so much … This featured Executive like all others (Including Obama) has no clue whatsoever on how to go about and fixing the Economy in a way that’s for the better.. All the while the value of the U.S. Dollar climbs higher or defies logic for same crazy “Unexplainable” reason I had predicted and warned about during the Obama Bailout indoctrination propaganda period. It was on these CNN Type blogs and others that I had warned about Obama single handedly initiating yet another unique (One of a kind) Economic Balloon all on his own (The U.S. Dollar Currency Balloon.) That this balloon would make the “Housing One” look like just a very minor ridiculous inconvenience in history by comparison. I don’t believe that between all them Economist and Financiers, that none of them can’t come up with a viable solution.. When many are available on many spheres. The Truth is that Evil is greedy and tough to admit wrongdoing or show his true value (Economic or Otherwise..) That’s just not like evil would do..

    March 2, 2009 at 7:29 pm |
  10. J. Port

    When is CNN going to hold President Obama and the Democrats accountable for their economic policies.

    The stock market is looking forward at our prosects of recovery. After weeks of Obama solutions that increase ong term deficits and raise taxes, the incentive to take risks, invest and the cost of capital formation are growing at a concering rate.

    The current regime has dictated domestic economic policy since December 18, 2008 when then President elcet Obama and the Democrats in Congress met to outline their policy objectives and plans. The DJA was trading at 8,604. Today the DJA closed at 6,763 – a decline in over 1,800 points and 21%.

    Those betting on our econmy are expressing a lack of confidence, not in where the former Administration left us, but where the current Admiinistration is taking us.

    The most trusted name in news owes it to us all to rigorously examine these policies and hold the current Democratic Party leaders accountable.

    March 2, 2009 at 6:44 pm |
  11. Melissa

    lol These people are robbing us and they're trying to make us think its a good idea. How amusing.

    March 2, 2009 at 6:20 pm |

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