CONGRESSIONAL DEMAGOGUES GET THEIR WISH: AIG CHAIRMAN QUITS

BBC: Insurer AIG says its chief executive, Edward Liddy, plans to step down after eight months in the job.

Mr Liddy was appointed after AIG's near collapse and government bail-out in September, and his time in the job was expected to be temporary.

His tenure at AIG was not easy. Bonuses paid to AIG executives caused widespread controversy.

Mr Liddy, who was being paid a $1 annual salary, will leave the company when a replacement is found.

"Much work remains to be done at AIG, but much has already been accomplished," Mr Liddy said.

... The insurer has been heavily criticised for paying $165m in bonuses after taking government money, although many top executives have agreed to return the payments.

[A DEAL WHICH HER GOVT KNEW ABOUT IN ADVANCE AND APPROVED. AND: THE DEAL PRE-DATED LIDDY'S ENTRY TO AIG!!!]

The US government has committed $180bn to AIG, in return for an 80% stake.

Stephen Bollenbach, AIG's lead director, said that Mr Liddy had led AIG "effectively and courageously", and without compensation.

"Ed Liddy answered the call of his country and the needs of AIG without reservation amid one of the darkest periods of the current financial crisis," Mr Bollenbach said.

• THE WHOLE BROUHAHA OVER THE BONUSES WAS NOTHING MORE THAN CONGRESSIONAL PROPAGANDA, AND MISDIRECTION PLOY TO GET THE HEAT OFF OF THEM.

• IT WAS DISGUSTING.

• AND AIG IS LOSING A GOOD MAN AS A RESULT.

• A MAN WHO KNEW WHAT HE WAS DOING - UNLIKE THE SCUM IN DC.