Tuesday, March 24, 2009

Real Disgrace AIG Disgrace

See March 24, 2009 Wall Street Journal column "The Real AIG Disgrace" by Holman W. Jenkins, Jr. at http://online.wsj.com/article/SB123793914378932263.html

■ "As far back as October, New York Attorney General Andrew Cuomo had summoned the Treasury-appointed Mr. Liddy to hammer out a deal on AIG's pay practices. Said Mr. Cuomo in a statement afterward: 'These actions are not intended to jeopardize the hard-earned compensation of the vast majority of AIG's employees, including retention and severance arrangements, who are essential to rebuilding AIG and the economy of New York'."
■ "Which brings us back to Mr. Cuomo, whose office has been implicitly threatening to publish names of AIG employees who don't relinquish pay they were contractually entitled to."
■ "Mr. Cuomo is a thug, but at least he reminds us: It can happen here."


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