CNBC to Liddy: Is this the last time taxpayers have to write a check to AIG? Liddy: I wish I could say “yes” but it depends on what happens to the capital markets….
Liddy Pleads for Forgiveness as AIG Rescue Unravels
Source: Bloomberg
American International Group Inc. Chief Executive Officer Edward Liddy is under pressure to convince taxpayers they won’t lose billions of dollars in the U.S. rescue of the firm after his plan to sell assets stalled. Liddy, appointed to fix the insurer after it needed an $85 billion lifeline that grew to $150 billion, is asking the government for help again, two people familiar with the matter said this week. His strategy to sell most of New York-based AIG’s businesses may be scrapped after not getting enough bids, and a restructured bailout may include giving units to the U.S. in exchange for forgiveness of some loans, the people said.
