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AIG CEO Edward Liddy: Bio
AIG Chairman and CEO Ed Liddy
Edward Liddy Bio
Edward Liddy was a couple years into his "retirement" from Allstate Corp. when Treasury Secretary Henry Paulson sought him out for a daunting task: to lead the ailing American International Group out of near financial ruins.
Liddy stepped down as partner of the global equity firm Clayton, Dubilier & Rice and accepted the challenge. He's well qualified for the job. He led the initial public offering and 1995 spin-off of Allstate from Sears, Roebuck and Co., which he joined in April 1998 and served in a variety of financial and operating positions before being named chief financial officer in February 1992.
From 1986 to 1988, Mr. Liddy was executive vice president of ADT, Inc., where he was also a member of the board of directors. Previously, he served for seven years in a series of positions with G.D. Searle & Co. where his last post was senior vice president and chief financial officer.
A dedicated philanthropist, Liddy currently serves on the boards of Northwestern University and the Museum of Science and Industry in Chicago. Previously, he was chairman of the board of Northwestern Memorial HealthCare and is a life trustee and former national chairman of the Boys & Girls Clubs of America. He also serves on the Civic Committee of the Commercial Club.
Liddy holds an M.B.A. from George Washington University and a B.A. from Catholic University of America.
Dear Mr. Liddy,
I'm a retired lawyer who watched your appearance before the House Finance Committee aired March 18th. You made me proud to be an American. Unfortunately, those who questioned you did not, especially Mr. Barney, who was obviously way over his head.
Kenneth L. Strong, Illinois
Liddy deserves all of our appreciation and support. After working his but off to reach retirement, he is agrees to try and save a company that 70 million Americans depend on, that the nation and the worlds economy depends on, and he does it for nothing, not one penny! And what does he get? Threats to his family and self, and a bunch of congressman complainng about bonuses he needs to keep people he believes are necessary to rescue the company and therefore all of us. My thanks to this great man and my prayers to. And one other thing, considering the degree of this crisis, and not one big bank has failed, my thanks to paulsen and President Bush too!!
America, the Thug Society ?
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1/
Liddy read a letter received:
"All the executives (of AIG) should be executed, with piano wire around their necks."
"We know who you are, and where your children go to school."
2/
Barney Frank insisted that the names be released, at least those who kept the bonuses.
He wasnt sympathetic about the death threats
3/
A "helpful" congressman was interviewed by Bloomberg, saying:
"If they dont want to have their names released, they should return the bonuses."
HAVE WE really fallen to that:
Congress putting people in the way of death threats to get money repaid ?
Here's what SHOULD have happened:
The bailout money should have been made CONDITIONAL on bonus agreements being renegotiated,
as follows:
+ No big cash bonuses
+ Most of big bonuses paid in AIG stock
Let's face it, the Fed screwed up in missing this issue BEFORE it put in the bailout money.
Liddy has been put in an impossible situation, which he handled yesterday with grace, and professionalism.
Who should be on the hot seat: the amateurs at the Fed, who put the deal together, and congress people for playing politics with death threats.
I believe that Mr. Liddy is a patriot. He is attempting to save the largest insurance company in the world and earning a salary of one dollar per year.
rust me, he doesn't need the money and tdoesn't deserve the humiliation from people who not exactly saintly themselves.
Leave him alone and let him do his job and he will not let us down.
Alexander Martin's book, The Conspirators, copyrighted in 2002, says that AIG was involved in the financing of Iran Contra through what I would call fraudulent insurance payments. Martin also said that one of the sons of GHWBush was on the board of AIG at that time. Look on the Net - there is another AIG insurance scandal involving offshore accounts. http://www.insurancejournal.com/news/national/2006/02/09/65212.htm In Worse than Watergate, John Dean says that he was told that Bush-Cheney had a hidden agenda to end federal entitlement programs by running up budget busting deficits while hiking military spending..... p xv1 Foreward.
I hope you can sleep at night.
It’s disturbing that 73 people are so important to the livelihood of AIG when AIG can’t float their own boat. Am I to understand that anyone with a pulse can be a top exec with AIG????
FYI…. I’m certain there are very qualified applicants (who wouldn't have cost nearly so much) from the unemployment pool you have ultimately created in this country.
Fortunately, my family is secure with work and money.
I wish I could sleep at night… instead I worry about my neighbors, my community, my state and my country.
my name is celia shockley, my husband was a truck driver for 30 years , and got hurt during his job, has a occupational accident policy, which is treatning to cancel us in aug, my husband is now totally disabled, and needs another surgery, no one wants to help us. 806-241-9932 thanks and god bless
Although I am not an AIG employee, but as a CEO one of my company represents AIG Insurance units. Since the events of September, my businesses has suffered. It is a bit surprising that on Mr. Liddy's Bio, there are no references that Mr. Liddy, at the time of his nomination at AIG, he was a member on the Board of Directors of Goldman Sachs Group, Inc. Saying so we also know that Treasury Secretary Henry Paulson, who appointed Liddy at AIG, was CEO of GS. As well know out of the first $37 billion out of AIG went to investment banks including GS. (Re. http://whtt.org/index.php?news=2&id=2577)
A bit surprising that his Bio refers to employment at ADT… I always believed in AIG until lately… where there are victims at the expense of mortgage greed… from a "closed circle of buddies"
