09 Jan AIG vs The US Government – Thanks For Nothing
What are they thinking! Insurance giant AIG is considering whether to join a lawsuit against the US Government for “human rights violations incurred during the financial crisis bailouts. Talk about biting the hand that feeds you, it is a shock that the company would even consider such a move.
The Huffington Post Reports the following:
“The board of insurance giant AIG, which got a $182 billion government bailout during the financial crisis, meets Wednesday to hear a pitch from its former CEO, Maurice “Hank” “The Grinch” “A**clown” Greenberg, who wants AIG to join him in suing the government for violating shareholders’ human rights by giving them money. AIG’s board will also hear pitches from the government about why it would be out of its cotton-picking mind to join said lawsuit.”
Lets Get Serious…
The cushy terms of AIG’s bailout enabled them to continue operating as normal, including paying a full series of executive bonuses that same year, ON OUR DIME. Think about the nerve of these individuals to bring this lawsuit forward; as people in our country continue to loose their homes, and congress desperately tries to navigate the choppy fiscal water we are now sailing.
We are hopeful that AIG couldn’t possibly be stupid enough to go through with this decision. However, damage has already been done by not simply dismissing the issue right off the bat. Because of the delay and deliberation, legal costs have increased for our Government at a time when everybody knows we need to keep spending at a minimum.
Not cool guys…