AIG, bailed out by America, may sue America

In a story that seems almost too audacious to believe, insurance company AIG, which only just finished paying back its $182 billion taxpayer rescue, is reportedly considering joining a lawsuit against the U.S. government over the terms of that rescue, by far the most controversial and publicly derided of the Wall Street bailout era. The possible legal action comes as AIG is also running a splashy national ad campaign saying “Thank you, America,” for saving the company from total collapse. A federal judge in New York in November tossed out the lawsuit AIG is considering joining, noting that AIG had two options in 2008: Agree to terms of the bailout or go into bankruptcy. It chose the bailout. But the lawsuit continues on a separate track in federal court in Washington and in a federal appeals court.

Read entire article HERE

Leave a Reply

Your email address will not be published. Required fields are marked *