March 20, 2009
Posted: March 20th, 2009 10:00 AM ET

From
 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


Outraged   March 20th, 2009 12:59 pm ET

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.

Mari   March 20th, 2009 12:57 pm ET

***************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!

Mark   March 20th, 2009 12:31 pm ET

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!

Wade   March 20th, 2009 12:28 pm ET

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.

Denver Mom   March 20th, 2009 12:23 pm ET

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.

U gotta be kidding   March 20th, 2009 12:20 pm ET

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.

Cary   March 20th, 2009 12:19 pm ET

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

red33,cedar rapids, ia   March 20th, 2009 12:18 pm ET

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.

Darwin   March 20th, 2009 12:15 pm ET

Having a Barney moment?

Kingratt   March 20th, 2009 11:57 am ET

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.

Dave - Raleigh NC   March 20th, 2009 11:45 am ET

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

gary   March 20th, 2009 11:43 am ET

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

Jim in Austin   March 20th, 2009 11:41 am ET

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.

Mike   March 20th, 2009 11:41 am ET

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.

now this rings of McCarthy-ism a little   March 20th, 2009 11:39 am ET

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

Your not impartial in this having accepting AIG funds and all

Fixing the Social Fabric   March 20th, 2009 11:37 am ET

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?

Kent in CA   March 20th, 2009 11:36 am ET

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!

Tony   March 20th, 2009 11:30 am ET

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.

Carl   March 20th, 2009 11:30 am ET

Barney Frank,

How about you withdraw the $100 million in bonuses to fannie and freddie?

Farrell, Houston, Tx   March 20th, 2009 11:14 am ET

Liddy read a letter that had threatened an AIG bonus recipient as the reason for not disclosing the names. If a letter was sent then the names are already known. This just doesn't make sense.

Nelson Colorado Springs Co.   March 20th, 2009 11:13 am ET

Way to go, good move Sen Frank has demanded the names of AIG executives who received bonuses. Put that 90% tax on them

Denver Mom   March 20th, 2009 11:13 am ET

If you don't like the bonuses put AIG in bankruptcy, then you can legally restructure the contracts. STOP THE BAILOUTS!!!!!!!!!!!!!!!!!

Michigan Jim   March 20th, 2009 11:08 am ET

Seems like the best the Dems can do on this forum is say "Well, at least they admitted it, unlike Bush/Cheney."

Everyone who's looked at them says the AIG bonus contracts, inked back in May 2008, are legally binding. The payment of the bonuses was lawful, if distasteful and politically inept 10 months later. Now Congress wants to target a small group of people for 90% taxation on their lawful payments. Any other small group that falls into political disfavor could get the same treatment — including any of you. I haven't pulled out my Constitution yet, but there is something inherently un-American about this. It's also extremely frightening.

Get Real!!   March 20th, 2009 11:06 am ET

I don't agree with the bonuses that these crooks got but with the death threats that their families are receiving, including the children, I wouldn't want to release their names either. How about congress release the names of their families (including their children). After all, congress has completely led the charge to destroy this country and to line their pockets with our money at every turn!

Helen, NY   March 20th, 2009 11:05 am ET

This guy also is clown. I do not know how Democrats are going to manages with so many clowns around. God save us and save our country.

JP   March 20th, 2009 10:57 am ET

The single biggest reason Fannie Mae and Freddie Mac needed billions & billions was lack of oversight. The person with the most responsibility for this lack of oversight is Barney Frank who made public statements that they were fine. I understand why Frank didn't have for oversight he was too busy counting all the money Fannie & Freddie gave him. If Frank had any honor he would resign.

Jim in Philadelphia   March 20th, 2009 10:48 am ET

Release the names. Let AIG worry about the welfare of the families!

rooty, sc   March 20th, 2009 10:46 am ET

Too bad they weren't union members – then the Democrats would be behaving in a rational way.

kishen c.rao   March 20th, 2009 10:45 am ET

well, whoever is on the list, get them out of office....people will judge them in election....press, do not forget these people...get ready with cameras....

john himmelein   March 20th, 2009 10:44 am ET

I watched some of the hearings with AIG head. I couldn't help wondering why many at CNN, my favorite news station, were acting so much like those at fox "news." i also couldn't believe how senators, especially barney frank, would ask a question, get an answer, then ask the same question again. it's easy to see how our government has gotten us in such trouble over the past 8 years. our representatives just aren't that bright. how about looking at the problems our country has: job losses, financial disaster, health care, education, a billions of dollar war. how about not trying to enrage an already emotionally charged population by focusing so much attention on such a tiny part of the problem.

Fair is Fair   March 20th, 2009 10:44 am ET

Hey Barney Frank,

We also want to know the nature of the relationship you had with the big-wig at Fannie Mae...

You know... Fannie Mae. The company you said was perfectly OK?

patti m   March 20th, 2009 10:43 am ET

stop giving our money to people who waste it they need to work for it. no more money for aig.

Mark   March 20th, 2009 10:40 am ET

Here's the list. Pelosi, Dodd, and Obama

Mel   March 20th, 2009 10:39 am ET

Wow, some people are just willing to blame Obama for anything. Looking for a scapegoat and just hoping the whole world fails, are you? What truly wonderful people you are. NOT.

rob   March 20th, 2009 10:38 am ET

The circus that we call our Gov't is getting totally out of controll. Trying to tax 90% of bonuses will never stand up to a court challange. Congress and the treasury wrote the bill that allowed the bonuses...are they out of their minds? The Congress brought in Liddy to run the thing for $1 dollar a year but they treat him like a criminal. Who is Barney Frank to threaten to make public these names like a show trial right out of the old Soviet Union.

People, the Fed Reserve just Monitized over a TRILLION of our debt which will almost surely cause run-away inflation, a weak dollar, higher OIL prices and prolonging the bad economy.

And, Obama is on Leno telling dumb jokes while his treasury cheif is about to lose his job. Someone has to get controll of this runaway train before its too late.

I don't think the Congressional elections of 2010 can come fast enough.

dave b   March 20th, 2009 10:38 am ET

The list will not be shown!!!!!!!!!! Comrad obama's name is on it along with all the other dems

Divsional Change?   March 20th, 2009 10:37 am ET

He wants the names – so he can attack them (not that I mind that) but he refuses to ensure that they are kept safe. If I were one of those familiies, and the names ARE released to the do nothing congress, and something happens to any one of them – I'd own that party so fast their collective heads would spin.

sniffhole   March 20th, 2009 10:36 am ET

bubba frank had a gay prostitution ring set up in his house......and he wants to hold someone responsible?? this entire administration is truely horrible and ruining the USA.

mark j   March 20th, 2009 10:36 am ET

dave b March 20th, 2009 10:23 am ET

Comrad obama has ordered the lists!!! Don't blame comrad franks …he is only following orders .. The executions will now begin.

All hail comrad obama
dave b its spelled comrade

KC   March 20th, 2009 10:33 am ET

.
I stand corrected it was Mr Dodd who got the second most. Go to opensecrets.org. It will show you who is bought and paid for.

obamamama   March 20th, 2009 10:33 am ET

Who would "not take the money"? Get serious, these people got away w/murder and are laughing all the way to the bank!!!!!!!

Fitz in Texas   March 20th, 2009 10:32 am ET

A lot of the problem going on today stems from the likes of Barney Frank, Ms. Waters and the others that said there was nothing wrong with Fannie Mae and Feddie Mac. They are taking our country down and we just stand by and let them. They all need to go and now.

I'm not real big into name calling but Barney Frank is a self centered JERK!!!!!

Mississippi Mike   March 20th, 2009 10:32 am ET

AIG needs to give the list to the IRS, not Barney Frank. Congress is two things right now: A circus designed to make sound bites on the evening news and help C-span with its ratings, and a pipeline for shoving through any piece of poorly thought out legislation Nancy Pelosi writes.

I'm not sure that selecting congressmen the same way we select jurors would yield any worse results. Plus, most of the people would be satisfied with the high salaries, benefits and perqs that our lawmakers take for granted.

matt   March 20th, 2009 10:31 am ET

Sue, I mean this with no disrespect..but what does your husband working for a chemical company have to do with him knowling the legal structure behind bonuses written at AIG? I appreciate your interest, I just found that amusing. EVERYONE, have a good weekend, enjoy it and smile!

DavidinCA   March 20th, 2009 10:29 am ET

This line of reasoning is so inappropriate it could only come from a desperate politician. Barney Frank fits the bill.

Bob   March 20th, 2009 10:29 am ET

Obviously Barney has no clue on employment law. If the employees of AIG have in writing an employment agreement with bonuses and if they achieve the objects laid out in the agreement, they have to be paid. The government should have stipulated in the bailout money that no bonuses were to be paid out of that cash. Then AIG would have had a legal leg to stand on. This is nothing more than a smokescreen to divert the blame. Barney should be shown the door. His re-elections don't reflect well on the people who keep sending him back.

matt   March 20th, 2009 10:29 am ET

And I will give you a hint in regards to the Barney Fife/Herb Moses/FannieMae Connection (you're welcome):
"I am the only member of the congressional gay spouse caucus," Herb Moses wrote in the Washington Post in 1991. "On Capitol Hill, Barney always introduces me as his lover."

Kevin in Ohio   March 20th, 2009 10:28 am ET

Barney Frank sounds a lot like McCarthy.

Jon   March 20th, 2009 10:28 am ET

Message to those who voted for the bailouts.

You are public employees.

We are the public.

YOU'RE FIRED!!!!!!!

(preferably out of a large cannon)

bob z.   March 20th, 2009 10:28 am ET

12 of the companies getting bailouts owe back taxes so what makes you think aig will pay them.

KC   March 20th, 2009 10:28 am ET

I'm surprised that Mr. Frank doesn't already have the bonus list. He was the senator to receive the second most funds from AIG over the last few years. I wonder who the one to receive the most was? Oh yeah, Barack Obama.

NYC gal   March 20th, 2009 10:27 am ET

Give up some names!

don't worry about their safety..

with the millions of dollars given to them, they can afford the best security services money can buy.

matt   March 20th, 2009 10:27 am ET

PLEASE...liberals, I beg you to google the name Herb Moses from Fannie Mae and you will easily find the connection between Barney Fife and the ENTIRE mortgage mess....if you are as logical as you say you are, then you would give this a shot...google it, HERB MOSES

Sue   March 20th, 2009 10:27 am ET

My husband works for a chemical company and he said these bonuses were not 'retention' bonuses over the longterm. What they were is pay-to-perform awards, meaning that the employee would complete whatever job they were working on to satisfaction, and then would leave the company. It's not illegal, and it's done all the time. What makes this bad is the taxpayer involvement, of course. But I do not believe we need a MCcarthyesque 'hit list' of names. Some of the guys have already surrendered money that they earned legally, and if the rest can live with themselves, so be it. Focus on not letting it happen again, and move on! Frank needs to get over himself. I don't see him volunteering to return any of his salary.

Oh C'mon!   March 20th, 2009 10:26 am ET

don't worry about their safety..

with the millions of dollars given to them, they can afford the best security services money can buy.

Jon   March 20th, 2009 10:25 am ET

Barney Frank is a Grade "A" Number one idiot. Yesterday he claimed he was going to do a plethora of actions, all after the fact, to go after AIG and its executives, to get back the bonus money. This morning he did a 720 degree turn around in saying that the Congress CANNOT commit such ex post facto law enforcement against people who defaulted on their mortgage contracts.

Oh C'mon!   March 20th, 2009 10:25 am ET

You know, the reason why they won't give out the list is because they are afraid for the recipients of the bonus.

I can see that, but you know what?

They didn't have to take the money.

Maybe a bit of shame will give these corporations and people in them a better sense of morals.. If there are no consequences, these employees will never feel bad about greed. Fear can be a great motivator when it comes to corruption.

if anything, they now have the money to hire top level security..

dave b   March 20th, 2009 10:23 am ET

Comrad obama has ordered the lists!!! Don't blame comrad franks ...he is only following orders .. The executions will now begin.

All hail comrad obama

worriedmom   March 20th, 2009 10:23 am ET

Frank is a joke and a crook! I don't like it at all that bonsuses were given but people remember it was our Treasury Dept and Congress (Dodd and others) that allowed this to happen. Now they are trying to cya by putting a 90% tax on bonsuses retroactive! I do not think it is right to publicize these individuals names, addresses and etc.
And personally i think each one of the Congress individuals, treasury and anyone else invovled in this AIG fiasco should have their wages taxed at 90% because they allowed this to happen and thought the American public would never find out. They think we are fools!

Saad from NJ   March 20th, 2009 10:23 am ET

And then what????

Bob the Observer   March 20th, 2009 10:22 am ET

Look up "hypocrite" in the dictionary, and you will find Barney
Frank's picture.

Frank is the poster child of the Republocrat politicians who create a problem, and then are publicly "outraged" at that same problem.

He was in charge of the banking committee when the mess started, and he could have been vocal back then, when the situation could have been reversed.

He, like most of the ones we have in Washington, appears to be able to do nothing except talk.

Jackie   March 20th, 2009 10:22 am ET

And not to mention...he started this mess my not allowing Fannie and Freddie to be regulated.

Jimmy   March 20th, 2009 10:21 am ET

make this country better, vote Barney out, he is useless

Jackie in Dallas   March 20th, 2009 10:20 am ET

I'll bet it is a security issue! Some of those people could find themselves being hunted in their own neighborhoods by their neighbors!

Seriously, these people - but most especially, their contracts - need to be looked at in detail. I've contracted most of the last 20 years...you don't usually have a contract that guarantees you'll get paid if you don't meet expectations, don't meet the terms of the contract, or do something unethical or illegal. While I can't make a judgement on whether what they did was illegal or unethical, I CAN definitively state that if it was a retention bonus, and they left, they owe it back, and if it was a performance bonus, they DEFINITELY owe it back!

Mike Syracuse, NY   March 20th, 2009 10:19 am ET

And I want a list of those who voted for the stimulus with a provison that let AIG keep the bonuses. Barney to Idiot is one of them!

Voter   March 20th, 2009 10:18 am ET

These guys are making a fuss just to divert our attention from the fact that they VOTED for these bonuses. The whole thing is really tiresome – all this posturing and carrying on.

Get back to work!

Marla- FL   March 20th, 2009 10:18 am ET

more posturing pontification by the Senate's Elmer Fudd. He won't get it...and he knows it. Pandering.

Dutch/Bad Newz, VA   March 20th, 2009 10:17 am ET

Barney Frank is trying to make these guys targets. It's almost mafia-like.

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