AIG CEO Edward Liddy kicks off his speech to Congress with “three simple beliefs,” the first of which is this:
“When you owe someone money, you pay that money back.”
Alas, he ends it with an apparent admission that there is no way AIG will ever do that:
The people at AIG today are working as hard as we can to execute the restructuring plan that, we believe, offers America’s taxpayers the best possible outcome:
* Repayment of AIG’s debt to the government to the maximum extent possible. [our emphasis.]
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