By the way since receiving so much backlash for saying that they might join a lawsuit against the very government that saved their asses, AIG has now opted out:
Afraid of looking like a world-class ingrate, AIG on Wednesday decided against suing the federal government over the $182 billion bailout that saved the giant insurance company from collapse.
Gee how kind of them.
Assholes!
AIG was NEVER going to sue the federal government over the terms.
ReplyDeleteThe only reason this has been in the news was the result of the former CEO of AIG Hank Greenberg filing a lawsuit on behalf of shareholders. AIG only had the legal obligation to formally decide to partake or not. Did you ever get one of those forms in the mail to opt in or out of a class action lawsuit? Same thing here on a bigger scale.
Hank Greenberg is no longer working for AIG. He was, however, at the helm when they decided to get involved in credit default swaps. He is largely responsible for the clusterfuck we face now.
Matt Taibbi wrote about it here:
http://www.rollingstone.com/politics/blogs/taibblog/hank-greenberg-should-be-shot-into-space-for-suing-the-government-over-the-aig-bailout-20130109
http://www.thedailybeast.com/articles/2013/01/08/don-t-blame-aig-for-hank-greenberg-s-lawsuit.html
ReplyDelete