UNREAL!!!!! "Beginning in 2008, the federal government poured billions of dollars into AIG to save it from bankruptcy,” Warren said in a statement. “AIG’s reckless bets nearly crashed our entire economy. Taxpayers across this country saved AIG from ruin, and it would be outrageous for this company to turn around and sue the federal government because they think the deal wasn’t generous enough. Even today, the government provides an ongoing, stealth bailout, propping up AIG with special tax breaks — tax breaks that Congress should stop. AIG should thank American taxpayers for their help, not bite the hand that fed them for helping them out in a crisis." Read more: http://www.foxnews.com/politics/201...ighing-joining-suit-against-us/#ixzz2HUlAH9z7
It doesn't surprise me. Get money from the government to save your arse and when that runs out, sue them for more.
Agree 100%. AIG did not go along with the private investor lawsuit, which I figured they'd be crazy if they did. Interstingly enough the head of the lawsuit used to run AIG and owns a massive amount of shares. I saw an interview with him and he wanted AIG to go bankrupt initially, not take the bailout. He said the gov't used AIG as a front to bail out some of the big banks through the back door. Wouldn't suprise me. Our govt is as crooked as can be. The other thing most folks don't know...everyone refers to AIG as a massive insurance company -which they are. However they are also into just about everything else as well. They basically have two segments - insurance & all the other stuff they are into - lots of businesses. The insurance business of AIG always had piles of $, and has always taken care of itself. They had more than enough in cash reserves on the insurance side of the house to bail themselves out, however federal law prevented them from using that money held in the insurance business reserves. (rightly so) It wasn't the "insurance" portion of their business that got em in over their heads, it was all the other crap - the other side of the business. They got so big and had such a far reach with all the stuff they are into, the govt felt they HAD to be bailed out whether they liked it or not. No idea what would have happened if they had not, but the insurance side of their business would have been fine. Everything else, probably not so much.
