March 20th, 2009
10:00 AM ET
6 years ago

Frank wants AIG bonus list

 Frank is seeking the names of those AIG employees who received bonuses.
Frank is seeking the names of those AIG employees who received bonuses.

(CNN) - New York Attorney General Andrew Cuomo may have the names of those AIG employees who received bonuses, but House Financial Services chairman Barney Frank does not, according to his spokesman.

"We are consulting with law enforcement after the concerns that [AIG CEO] Mr. Liddy raised in the hearings. We will decided what we do after that consultation," said Steve Adamske, Frank's spokesman.

Frank has been demanding the names of AIG executives who received bonuses, and threatened a subpoena to get them. Cuomo has cited security concerns as a reason not to release the names.

Edward Liddy also testified before Frank's committee on Wednesday that he did not want the names released to the public, for fear of their safety.

Frank said he couldn't promise that he wouldn't release the names, and said he would consult law enforcement officials about security concerns.


Filed under: Barney Frank
soundoff (68 Responses)
  1. Tony

    Does Congress have a problem taking their raises every year? Maybe we should send them emails saying we're going to kill them and their families for doing nothing every year and taking OUR money.

    March 20, 2009 11:30 am at 11:30 am |
  2. Kent in CA

    It appears that the bloggers here are forming their opinions from sound bites from the news, as usual.
    I listened to every word of Mr Liddy's testimony Wednesday. You guys with all your useless finger pointing and rants have no clue what is at stake here. This isn't about $165M (which is absolutely repugnant). This isn't about $170B.
    Mr Liddy declared that the open exposure of credit default swap contracts at AIG is $1.6 TRILLION!
    That's a huge number. But that is still not the worst of it. What will the collateral damage be if $1.6 trillion of liquidity suddeny vanishes from the balance sheets of the world's largest financial institutions, in the current environment? The damage could be in the tens of trillions of dollars. A hundred trillion dollars? More? Who knows?
    I think everyone here needs to open their eyes and stop yelling at each other. We are at great risk here, and the best you can do is look for someone to blame.
    The house is on fire and you guys are bickering about might have been smoking in bed! We all need to grab our buckets and put this fire out!
    WE ARE AT GREAT RISK HERE!

    March 20, 2009 11:36 am at 11:36 am |
  3. Fixing the Social Fabric

    The fact that they have to fear for their safety is the biggest indicator of how much the public feels violated ... dare I say raped ... by AIG and Wall Streeters.

    President Obama wasn't drawn to the "big money" of Wall Street after graduating from Harvard Law. Unfortunately many Harvard, Columbia, Wharton, Stern, Haas, Northwestern, Stanford MBA'er and JD'ers don't share his sense of community service.

    They are selfish bastards. They can not be TRUSTED to do the right thing. They must be regulated ... they must be TOLD what the "right thing" is. No one in America does anything that is worth earning more in ONE YEAR than most factory workers make in a LIFETIME.

    If necessary, the Government should PROACTIVELY regulate funky financial instruments like derivatives and swaps so that they are less risky ... hence less potentially lucrative. A damper must be put on all compensation ... balance must be restored.

    Otherwise, why don't I just take whatever I want by whatever means necessary? Aren't I as deserving as those thieves on Wall Street?

    March 20, 2009 11:37 am at 11:37 am |
  4. now this rings of McCarthy-ism a little

    Mr. Frank, why don't you just let the IRS handle this

    Your not impartial in this having accepting AIG funds and all

    March 20, 2009 11:39 am at 11:39 am |
  5. Mike

    If this loon, barney frank releases the names of the AIG officials who got the bonus and one or more of them are hurt or killed, talk about a law suit. But, barney does not care about that as long as it comes out of the taxpayer money and not his own. The democrats in the congress and senate voted for the payout.

    March 20, 2009 11:41 am at 11:41 am |
  6. Jim in Austin

    The AIG bonus contraversary is a smoke screen. What about Fannie Mae Freddie Mac bonuses and political (mostly Democratic) contributions? I'm telling you the AIG issue is a decoy; directing your attention away from the real giveaway. Open that can of worms and a lot of Congress will end up in jail.
    And... what are a few million when we just gave away (printed) trillions of dollars.

    March 20, 2009 11:41 am at 11:41 am |
  7. gary

    barney, barney, barney, i will say one thing just like andy taylors deputy you both have the same name any you could probably fit both of your brains in a thimble oh i forgot don knotts played a caracter named barney whereas you are real but your brain still belongs in a thimble

    March 20, 2009 11:43 am at 11:43 am |
  8. Dave - Raleigh NC

    Oh I thought that was Elmer Fudd. His name is Barney Frank ????

    March 20, 2009 11:45 am at 11:45 am |
  9. Kingratt

    Barney Frank is creating a stir to deflect attention away from the fact that his incompetent leadership allowed AIG to get us into this mess. Guys like Dodd and Frank are like parents who use television as a babysitter and then get mad when they catch their kids watching porn. If they had supervised these companies like they were supposed to do, we would not be in this mess.

    March 20, 2009 11:57 am at 11:57 am |
  10. Darwin

    Having a Barney moment?

    March 20, 2009 12:15 pm at 12:15 pm |
  11. red33,cedar rapids, ia

    Now, all of a sudden, these 'top' 2 democrats( Frank & Dodd) of these important chairmanships are getting a little worried and want to do something NOW, when they share a huge share of the responsility for getting us in this mess in the first place.
    Now they are proclaiming their innocence; they need to be held accountable.

    March 20, 2009 12:18 pm at 12:18 pm |
  12. Cary

    If these people's bonuses are being funded by the tax-payers, they're names and amounts should be open to the public.

    March 20, 2009 12:19 pm at 12:19 pm |
  13. U gotta be kidding

    everyone needs to read rob comment because that dollar that is in your wallet that was worth $1.00 is now worth $.75 togay if we are lucky. keep on printing the money.

    March 20, 2009 12:20 pm at 12:20 pm |
  14. Denver Mom

    Maybe, just maybe, the leadership is lacking b/c only 1 out of 18 nominees have been vetted by Mr. Prez for Treasury. Cause his promise that the economy is his #1 concern is just rhetoric.

    March 20, 2009 12:23 pm at 12:23 pm |
  15. Wade

    So Frank can't guarantee he won't leak their names?
    It's blackmail.
    If anything happened to any one of those execs, HE would be libel as an accessory to what ever crime is committed.

    March 20, 2009 12:28 pm at 12:28 pm |
  16. Mark

    Don't be fooled by the real issue at hand. While this topic has been going on, The Federal reserve is borrowing from the U.S Treasury approximately $1.5 Trillion of its debt to make more money available.

    Please post this CNN and do an in depth story on pros and cons of this manuever!

    March 20, 2009 12:31 pm at 12:31 pm |
  17. Mari

    ***************CNN can I get a comment posted, please?*****************

    I AGREE that Barney Frank is out of line asking for the names of those who received the bonuses! That's not necessary. The people who got Bail-Out Money bonuses need to give the money back!

    However...... the REAL CROOKS are the bankers and Wall Street suits that derailed our economy!

    How about the people who are "short-traders" these people drag down a company that is viable and doing well, for their own profit!

    The GOP DE-regulated Wall Street & the banks; and they in turn had a grand time ........ BETTING on the failure of mortgage loans and banking system.

    Attorney General Holder needs to throw the RICO laws at AIG, Citi, Merrill Lynch and the rest of the criminals!

    March 20, 2009 12:57 pm at 12:57 pm |
  18. Outraged

    We, the taxpayers now own 80% of AIG. We have every right in the world to know who is in our employ, and their wages and bonus amounts. We have the right to know who in our employ has fleeced us.

    March 20, 2009 12:59 pm at 12:59 pm |
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