Mad Money: The AIG edition
AIG got Congress — and the public — hopping mad this week, with news that executives at the failing company pulled down $165 million in retention bonuses on March 15.
President Obama ordered Treasury Secretary Tim Geithner to find a way to get the money back, while the U.S. House of Representatives summoned CEO Edward Liddy for testimony.
Here at PolitiFact, we found riches of our own with all the statements being thrown around.
This week's offerings include:
• AIG will give $57 million in "retention payments" to people it actually intends terminate, said Rep. Elijah Cummings of Maryland. We found that True.
• A bipartisan amendment could have avoided all this if the amendment had only made it through Congress earlier this year, said Sen. Ron Wyden of Oregon. We looked into the amendment and found his statements about it to be Mostly True.
• A chain email said that AIG was getting taxpayer dollars because it insures the federal pensions of Congress. The Truth-O-Meter said Pants on Fire!
• In Japan, shamed executives apologize and then resign or commit suicide, said Sen. Charles Grassley of Iowa. We found he was right on the apologies and resignations, while suicides are rare. We rated his statement Half True.