AIG Chief Own Significant Stake in Goldman Sachs

www.cnbc.com...

Edward M. Liddy, the dollar-a-year chief executive leading the American International Group since its bailout last fall, still owns a significant stake in Goldman Sachs, one of the insurer’s trading partners that was made whole by the government bailout of AIG.

Mr. Liddy earned most of his holdings in Goldman, worth more than $3 million total, as compensation for serving on the bank’s board and its audit committee until he stepped down in September to take the job at AIG He moved to AIG at the request of Henry M. Paulson Jr., then the Treasury secretary and a former Goldman director.

Details about his holdings were disclosed in Goldman’s proxy statement and confirmed by an AIG spokeswoman, who said they constituted “a small percentage of his total net worth.” Mr. Liddy had already owned some stock in Goldman Sachs before joining its board in 2003.

I mean what can I say the article explains it all. People were wondering why Goldman Sachs was getting billions of dollars through the conduit we know as AIG and this report explains why. Another example of this crony capitalism that we the taxpayer get to foot the bill for. No wonder there is no trust.......

So let's do something about it. I'm tired of all the complaining on here. Everyone is throwing in about how this small group of people are crooks, but no one does anything. Not throwing this at you OP, I'm just tired of hearing about how these people are scum, yet we let them continue to do the crap they do.

I have several ideas, all of which would violate the ATS T&C

Anyone have any that wont?

Edit to add, "You know the Germans, they make great stuff" Love the avatar

[edit on 17-4-2009 by midnightbrigade]

The whole lot of them, the CEOs are very incestuous in their stock market portfolios. The media and Washington knows this, but as with most things these days involving the Mortgages and Banks, they sweep it under the rug so the public doesnt know/care about it.

Originally posted by midnightbrigade
So let's do something about it. I'm tired of all the complaining on here. Everyone is throwing in about how this small group of people are crooks, but no one does anything. Not throwing this at you OP, I'm just tired of hearing about how these people are scum, yet we let them continue to do the crap they do.

I have several ideas, all of which would violate the ATS T&C

Anyone have any that wont?

Edit to add, "You know the Germans, they make great stuff"

Love the avatar

[edit on 17-4-2009 by midnightbrigade]

I go to the protests....I go to the tea parties....I go to the End the FED rallies. The problem is not many others do. The tea party was good but I still think we needed many more to show up. When we start protesting in mass then change will have to happen. If it doesnt after that then your right French Style revolution is inevitable.