Posted on 03/13/2013 9:03:36 PM PDT by Nachum
Former American International Group (AIG) CEO Hank Greenberg accused the Obama administration Wednesday of threatening the company not to join a class action lawsuit that he has brought against the federal government over the terms of the 2008 AIG bailout. Minutes of an AIG Board of Directors' meeting in January 2013 appear to support Greenberg's claim.
Frances Bivens, the lawyer who represents the U.S. Treasury in the case, warned AIG's board that if it joined the lawsuit, the company could face "another wave of congressional investigations" and public embarrassment.
Greenberg, who had left AIG by the time of the 2008 financial crisis but remained an AIG shareholder, has consistently argued against the federal bailout. He brought the lawsuit on behalf of shareholders who were shortchanged when the government forced AIG to accept what he argues were unfavorable terms.
This week, a federal judge certified two classes of investors in the lawsuit, ruling that the case potentially involved "tens of thousands" of investors--including unions, pension funds, and individual investors. The suit seeks $50 billion in damages from the U.S. government, to be paid to AIG's shareholders at the time.
On Wednesday evening, Greenberg appeared on Neil Cavuto's show on the Fox Business Network to discuss the threats. He reminded Cavuto that "many people lost their life savings, including pension funds, including many AIG employees who worked for thirty-five, forty years to build the value of the company."
(Excerpt) Read more at breitbart.com ...
The list, Ping
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Fascism is as Fascism does.
It’s the Chicago way.
Done by the thug in Chief.
Yep...just ask Bob Woodward. Wonder if there’s a Threat Czar.
I can’t remember the circumstances now, but early in BO’s 1st term, I seem to recall a very prominent attorney going on Fox News to say that his clients had been threatened by the Obama Admin. It was either the TARP bailout or the Chyrsler restructuring. Anyway, it looked like it was going to be a big story and then all of a sudden ... his clients withdrew their comments and jerked him off the air as their representative. Anyone remember what that was about?
The Chicago Way in action.
I remember it somewhat, but can’t think of the company, but I do remember it DISAPPEARING off the radar!
I found it. It was Attorney Thomas Lauria from the respected bankruptcy firm White & Case. His client was Perella Weinberg.
http://abcnews.go.com/blogs/politics/2009/05/bankruptcy-atto/
I’m glad to see that Hank found something useful to do after retiring from the Detroit Tigers.
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