(Los Angeles, California. Thursday, March 19, 2009). Freedom Watch, the non-profit watchdog which promotes and protects individual freedom and government ethics, founded by Larry Klayman, has sent a demand letter to the CEO/Chairman of the Board of AIG, Mr. Edward Liddy, demanding under American securities and related laws, that the Board of Directors and Officers of the company initiate legal action to recoup all of the hundreds of millions of dollars in bonuses paid to the incompetent employees who drove the company into the ground, now at not only shareholder but U.S. government expense.
As Freedom Watch does not expect a positive response by the deadline of 10 a.m. today, “we will file suit later today in the U.S. District Court for the Central District of California,” stated Larry Klayman, Chairman and General Counsel.
“It is clear that the government oversight apparatus, run by the likes of the compromised Barney Frank in Congress and the hapless Timothy Geithner, Secretary of the Treasury, is not up to the task and is simply playing “patty cakes” with the American people. As a result, the American people must take action on their own, as the “new American nobility,” comprised of the likes of AIG, thinks it is above the law and can spend and waste shareholder and taxpayer money at will. Clearly, AIG feels it is open season on the use of government money, given the flow of cash first by the Bush administration and now the Obama administration Â— two of the biggest, most irresponsible spenders in American history. Freedom Watch must stand in their way!”, Klayman added.