Members of a congressional panel interrogating AIG CEO Edward Liddy on Wednesday repeatedly asked that he release the names of executives who were on the good end of $165 million in bonus payments. Rep. Barney Frank (D-Mass.), chairman of the Financial Services Committee, requested the names and threatened to subpoena them.
Story Transcript
House Financial Services Subcommittee
March 18, 2009
REP. BARNEY FRANK (D-MA): And you’ve said some people are giving the bonuses back. I’m now asking you to send us the names of those who received bonuses who have not given them back. Can you do that?
EDWARD LIDDY, CEO, AIG: Sir, I will, if I can be absolutely assured that they will remain confidential.
FRANK: Well, I won’t give you that assurance, sir. And so, if that’s the condition, it would be my intention to ask this committee to subpoena them.
LIDDY: I very much want to comply with your request. I would hope it doesn’t take a subpoena. If it does, then we will obviously comply with the law. I’m just really concerned about the safety of our people. So let me just read two things to you. “All the executives and their families should be executed with piano wire around their necks.” “My greatest hope: if the government can’t do this properly, we the people will take it in our own hands and see that justice is done. I’m looking for all the CEOs’ names, kids, where they live, etcetera.”
FRANK: I have to say that if we give in to these kind of threats, we would never get information made public about a lot of things. And I would certainly ask that the state and local and federal law enforcement officials give full cooperation and I would urge that any threat that anybody even comes close to carrying out, or even threats which themselves which can violate the law, be prosecuted. But at this point I am not persuaded. But it is a—I will ask before we act that we get information through the security people, and that’ll be before the committee when we vote.
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