Skip to comments.Thank you, America: AIG mulls suing for insufficient bailout
Posted on 01/08/2013 8:16:00 PM PST by chessplayer
Heres AIGs entry into the series of suck-up commercials bailed-out entities have had to run in the wake of the 2008 financial crisis. On one hand, I appreciate the gesture. On the other, the thank-yous ring a bit hollow, the sorrys are non-existent, and theyre always a little heavy on the triumphant return theme.
Fresh from paying back a $182 billion bailout, the American International Group has been running a nationwide advertising campaign with the tagline Thank you America.
Behind the scenes, the restored insurance company is weighing whether to tell the government agencies that rescued it during the financial crisis: thanks, but you cheated our shareholders.
The board of A.I.G. will meet on Wednesday to consider joining a $25 billion shareholder lawsuit against the government, court records show. The lawsuit does not argue that government help was not needed. It contends that the onerous nature of the rescue the taking of what became a 92 percent stake in the company, the deals high interest rates and the funneling of billions to the insurers Wall Street clients deprived shareholders of tens of billions of dollars and violated the Fifth Amendment, which prohibits the taking of private property for public use, without just compensation.
My definition of an ass is someone that is given everything and still complains that it wasn’t enough.
AIG needed to be put down.
And...they never say thank you.
That would be a welfare parasite/democrat.
You get what you pay for...
And you can bet our Free Trader Communist Globalist politicans and supporters will kneel down and give AIG more of a bailout.
AIG was bailed out because they insure so many things overseas and domestically.