Tuesday, January 8, 2013

BITING THE HAND THAT FEEDS YOU

A.I.G. Considers Suing Government


“Thank you” really doesn’t mean what it used to. After Paying back $182 billion in bailout money—and running an ad campaign saying “Thank you America”—insurance company American International Group is considering whether it should sue the government. A.I.G. is mulling the idea of joining a $25 billion shareholder lawsuit. The suit states that the government cheated shareholders of billions of dollars and disregarded the rule that you shouldn’t take private property for “public use, without just compensation” (the Fifth Amendment). How did the government do that? By taking a 92 percent stake in the company and, you know, saving it.



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A.I.G. Considers Suing Government