AIG head steps down-too much government intervention?
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Recently the head of AIG, Edward Liddy, announced his intention to step down from the company's leadership post. As has been widely reported, AIG was one of the first companies to receive "bailout" money from the government and since then have been widely criticized for it's executive pay packages, bonuses, and other forms of compensation to it's executives. I guess when a company that large hits hard times due to numerous strategic "errors" on the part of it's leadership, and then receives a large infusion of cash from the federal government, it deserves the kind of scrutiny and micromanagement it has been under from the feds. However, there's a problem developing, not only at AIG, but at many other companies that are receiving federal funds. The problem is the compensation at these firms amounts to $1.00 a week. How are you going to get someone with the savvy and experience to come in and run these major corporations, and put up with the "hyper" scrutiny from the feds, in order to steer said companies to a more sound financial footing?