AIG Wants To Sue Government After They Bailed Them Out
By Victor Trammell
One of the biggest recipients of the taxpayer bailouts given after the 2008 crash of the stock market is preparing to sue the very same government that awarded all the money received.
AIG is one of the companies America decided was “too big to fail” after the economic collapse that occured right as President George Bush Jr. was leaving office. It eventually became public policy (at the expense of the American taxpayers) to “bailout” AIG and other very large companies who were largely responsible for the dire economic situation America was in at the time. So when the bond amount was determined to set AIG free from its self-inflicted financial incarceration, the government paid up. The tune of the bill: $182 billion.
Well now the large debt has become yesterday’s news as AIG eventually paid back the vast IOU it took out from the government. So what’s new news? AIG is asking the government for more billions. Except for this time, it is in the form of a lawsuit totally $25 billion. Talk about biting the hand that feeds you.
AIG’s executive board will be meeting tomorrow to decide whether or not to take part in the lawsuit, which is being headed up by AIG’s former CEO Maurice Greenberg. Greenberg claims major shareholders were cheated by the government in the bailout process.
In a statement published by the New York Times, Greenberg said:
“The government has been saying, ‘We’re your friend, we owned and controlled you and we let you go.’ But A.I.G. doesn’t owe loyalty to the government. It owes loyalty to its shareholders.” (New York Times)
Mr. Greenberg’s audacity can be rebutted with this simple piece of advice. Him and his AIG bedfellows can complain about the government’s position all they want. If they spare no expense for the majority of taxpayers who bailed them out, they deserve no sympathy from a jury in civil court. Didn’t they learn in their cut-throat business world on Wall Street that you keep your friends close and enemies closer?
7 Responses to AIG Wants To Sue Government After They Bailed Them Out
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Go Mr. Greenberg GO! I pray you win.
AIG came under attack from white rascist when they refused to operate like a good old boy system, and Obama’s govt took their side. AIG is known as a place that rewards strictly based on performance, which leveled the playing field for minority workers, and the good old boys hated them for it.
Mr. Greenberg ran that company well, and I cried when all of a sudden AIG was being accused of all kinds of dirty lies. A lot of middle class blacks were hurt. I always knew they would make a serious comeback, because their business model is not set up for failure. Same thing for Toyota when Obama’s govt told all those lies trying to make them fail to help LOSER companies in Detroit.
Losers always attack winners, rather than improving their performance. That is the kind of person Obama is, and that is the reason America is failing with him at its head.
This story is very sad. AIG was one of the big banks that helped to tank the economy back in 2008 under BUSH. And now they want to sue the Govt — which is the taxpayers who bailed them out. And we cannot forget how the EXECS were getting huge bonuses as they threw people out of thousands of homes, caused people to lose jobs, etc. How ugly !!!
It’s like suing the person who saved your life when you were drowning…gave you CPR…and now that you are back on your feet…you want to sue them because they did not give you a silk pillow.
Remember, O’Drama gave these corporate theives a welfare check when he bailed them out with OUR tax dollars!
What did they do with it…bought prostitutes (male and female), high price liquor and wine, got pedicures and manicures, and even gave themselves BONUSES!!!
Another tid bit; how come these bast.urds never go to jail when they have stolen 43 billion dollars of tax payers money, took their homes, cars, and other belongings, now they are crying for more money!
Let’s not forget about the 401k’s and pensions Hostess STOLE from their employees when they closed! These corporate gangsters are protected by the government when they do their dirty deeds, now they want to sue!
THESE CRAZY, GREEDY crackers CAN DO AS THEY PLEASE, WHILE BLACK PEOPLE CONTINUE TO GO TO JAIL FOR PETTY BULLSHYT, EVEN WHEN WE’RE INNOCENT!
Only in amerikkka!