actsnoblemartin
03-18-2009, 11:23 AM
http://news.yahoo.com/s/ap/aig_outrage
WASHINGTON – The chief executive officer of failed insurance conglomerate AIG acknowledged Wednesday that the company's multimillion-dollar bonuses were "distasteful" to many and had provoked a firestorm of wrath.
"I share that anger," Edward Liddy, chairman and CEO of the American International Group Inc., said in testimony prepared for Congress.
Lawmakers from both parties expressed fury over the company's behavior. For the American public, AIG now stands for "arrogance, incompetence and greed," said Rep. Paul Hodes, D-N.H.
WASHINGTON – The chief executive officer of failed insurance conglomerate AIG acknowledged Wednesday that the company's multimillion-dollar bonuses were "distasteful" to many and had provoked a firestorm of wrath.
"I share that anger," Edward Liddy, chairman and CEO of the American International Group Inc., said in testimony prepared for Congress.
Lawmakers from both parties expressed fury over the company's behavior. For the American public, AIG now stands for "arrogance, incompetence and greed," said Rep. Paul Hodes, D-N.H.