Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Economic Snapshot: The AIG Hearing's Best Lines


Our unscientific poll.


Oh, AIG (AIG).

There's little sense in recapping the beleaguered insurance company's assorted transgressions - the list is long and, this many months later, tiresome. Suffice it to say that American International Group has, in its own special way, redefined shamelessness.

Government-installed CEO Edward Liddy didn't make the mess -- he's ostensibly there to fix it -- but he bore the brunt of the nation's seething anger when he faced a steamed House subcommittee yesterday.

Which begs the question: Which camera-lovin' lawmaker laid the best smackdown? our Economic Snapshot has the saltiest of the salty.

The AIG Hearing's Best Lines

"Probably not. I think the company would have spiraled into bankruptcy."

- CEO Edward Liddy on whether AIG would have paid out bonuses in the absence of federal funds

Economic Snapshot
"Well, offense was intended. So you take it rightfully, sir."

- Rep. Stephen Lynch (D-MA), on Liddy's claim he took offense to the congressman's line of questioning

"Part of me wants to say to some of the loudest critics, 'What did you expect and why weren't you asking more questions before?' I would argue that the real outrage now is the $170 billion of taxpayer money that's been pumped into this company and to what effect."

- Rep. Scott Garrett (R-NJ)

I'd just as soon you get rid of them."

- Rep. Michael Capuano (D-MA) responding to Liddy's claim that AIG executives will resign if forced to return bonuses

"I voted against the bailout of AIG, and I wrote an editorial at the time: 'Bailout Plan could Mutate Into a Gravy Train of Tax Money.' Well it has."

- Rep. Ed Royce (R-CA)

"Eat it now. Take it out of your profits down the road. It's a lot sweeter now than it's going be later."

- Rep. Gary Ackerman (D-NY), on bonus money

"AIG now stands for arrogance, incompetence and greed."

- Rep. Paul Hodes (D-NH)

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos