Fodder for Goldman Sachs conspiracy theorists

The New York Times reports that AIG CEO Edward Liddy, while receiving just $1 in salary, holds a $3 million stake in Goldman Sachs. Liddy built the position while working as a director; he was on the audit committee. He later took the CEO job at the behest of Goldman Sachs alum and then-Treasury Secretary Henry Paulson.

In hindsight, some might view the decision by AIG, essentially a government-owned entity, to make counterparty Goldman Sachs whole on some CDS contracts as one tainted by Liddy's conflict of interest. Was he seeking the best outcome for Goldman Sachs, AIG, AIG's owners or the government? Many have speculated as to why AIG didn't seek concessions from CDS counterparties, which would have been reasonable given the circumstances. Anyway, this is interesting news, certainly it will delight and pique the Goldman Sachs conspiracy theorists out there, for better or worse. 

For more:
- here's the article

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