Thursday, March 19, 2009

Eric Claption Wrote "Take a Look at Yourself"

Yesterday I watched some excerpts of the grilling of AIG Chairman Edward Liddy. Liddy, a highly successful executive, was willing to step in and try to stop the hemoraging of cash at AIG due to the almost 1.4 trillion Dollars in potential exposure as a result of Credit Default Swaps issued by AIG to lenders. Liddy agreed to do this for an annual salary of $1.

So, I was particularly angry yesterday watching the Liddy hearing. Here is a real smart guy, who had nothing to do with creating the problem, working for $1 a year getting grilled like a criminal because he was honoring legally binding contracts set by his predecessors. And who was grilling him? The same guys who voted against oversight of AIG two years ago and awarded themselves a $4,700 annual salary increase last December as the rest of the economic world came crumbling down.

Who are these guys?

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