NU Online News Service, April 17, 3:58 p.m. EDT
Congressman Elijah E. Cummings, D-Md., reiterated a demand that American International Group Chief Executive Edward Liddy resign in the wake of a disclosure yesterday that Mr. Liddy has a substantial interest in Goldman Sachs.
According to a filing with the Securities and Exchange Commission, Mr. Liddy owns more than 18,000 shares in Goldman. AIG paid $12.9 billion to that firm using part of $120 billion in taxpayer funds AIG used to cover credit default swaps and other derivative obligations to Goldman and other firms.
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