AIG repays debt, launches goodwill ad campaign, sues government

[Correction]

Quick background in case you forgot, AIG would have gone bankrupt without government intervention.

If you've been on youtube in America lately you've seen these:


Typical niggas bragging about some shit a normal man just does.

So now they wanna sue the government because reasons. Technically the suit is from 2011 but it wasn't AIG, it was the ex-CEO filing and AIG is just having a board meeting to consider joining the suit.

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 deal’s high interest rates and the funneling of billions to the insurer’s 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.”

Maurice R. Greenberg, A.I.G.’s former chief executive, who remains a major investor in the company, filed the lawsuit in 2011 on behalf of fellow shareholders. He has since urged A.I.G. to join the case, a move that could nudge the government into settlement talks.

The choice is not a simple one for the insurer. Its board members, most of whom joined after the bailout, owe a duty to shareholders to consider the lawsuit. If the board does not give careful consideration to the case, Mr. Greenberg could challenge its decision to abstain.

Should Mr. Greenberg snare a major settlement without A.I.G., the company could face additional lawsuits from other shareholders. Suing the government would not only placate the 87-year-old former chief, but would put A.I.G. in line for a potential payout.

There are no words for how corrupt monstrous corporations are.

[Brill Weave]

Read this earlier and I immediately became infuriated. Takes balls man.

[kuronosan]

So just to summarize, AIG demands a bailout, government gives said bailout, AIG pays it back, then sues government that saved its ass just to make its shareholders feel better about sucking and not making enough?

[Cleverness]

Almost destroy the economy, gets a bailout to keep it from happening, now contemplates wanting to sue the government for getting a bailout to keep them from failing in the first place? Yea that sounds right for corporations in this country.

[tyven]

unreal.

[Qalbert]

[ronin sparthos]

How do you think ruthless capitalists make it to the top? You drink the blood of your grandmother and dead children if you must. Shareholders have to be pleased afterall.

A simple backstab is easy by comparison.

http://i34.photobucket.com/albums/d1...psfc4baceb.jpg

What's even better is they'll likely force the government to settle and make a profit off nearly going under ultimately learning nothing.

[Xno Kappa]

Wow, this is fucking amazing.

[Melena]

Just goes to show you that loansharking is only legal if you are a major bank.

[Ksandra]

all of my wtfs

[Kuya]

Should have nationalized the company and then dismantle into smaller banks.

[shaggnix]

just so i have the details straight, does uncle sam now have a 92% controlling interest in AIG?

[archibaldcrane]

just so i have the details straight, does uncle sam now have a 92% controlling interest in AIG?

0% now.

This might help: http://www.politifact.com/truth-o-me...t-plus-profit/

[Ksandra]

Should have nationalized the company and then dismantle into smaller banks.

oh god, I would love america if they lost the suit and this was the result.

It'll never happen though.

[shaggnix]

0% now.

This might help: http://www.politifact.com/truth-o-me...t-plus-profit/

thanks for that, that clears things up a lot. all i can say is wow, and now they're thinking about suing for more? this level of greed is sickening.

[Cantih]

ಠ_ಠ

[Stanislaw]

Immediately reminded me of this from a while back:

Greek Finance Ministry Calculating German War Reparations Bill

If sovereign nations can do it, corporations surely can!

[Pirian]

Not even great fiction writers can think of shit like this

[Talint]

This is why we can't have nice things.

[BaneTheBrawler]

The moletariat will rise, etc