"Thank you and Fuck you!" AIG thinking to sue US

[RobinStarwing]

This...

Let me post it.

Source

WASHINGTON -- At the same time American International Group Inc. has been running high-profile ads thanking America for the bailout that saved the company, the insurance giant reportedly is considering joining a shareholder suit against the U.S. government for the rescue.

The AIG board will meet Wednesday and could decide to join a $25-billion suit led by former chief executive Maurice "Hank" Greenberg, the New York Times reported.

The suit by Greenberg's Starr International Co. alleges that the 2008 bailout of AIG by the Treasury Department and Federal Reserve Bank of New York in which the government received an 80% ownership stake in the company violated the rights of shareholders. The ownership stake later climbed to 92%.

The suit in the U.S. Court of Federal Claims in Washington alleges that the bailout cost shareholders billions of dollars and violated the 5th Amendment, which prohibits the taking of private property for public use "without just compensation."

A similar suit against the New York Fed was thrown out by a New York federal judge in November. But Judge Thomas Wheeler of the Court of Federal Claims had ruled in September that Greenberg's case against the U.S. government could go forward.

A September court filing said the AIG board expected to make a decision by the end of January.

An AIG spokesman declined to comment Tuesday. A Treasury Department spokesman also would not comment.

But U.S. officials would not be pleased if AIG joined the suit. The company received the single largest bailout of the financial crisis, leaving the government on the hook for more than $182 billion.

AIG ended up taking about $125 billion in the complex, multi-step bailout. In the process, the company became the poster child for reckless risk-taking on Wall Street and the focal point for anger by the public and lawmakers over the unprecedented government intervention to save the financial system.

In December, the government sold the last of its stake in AIG. The bailout formally ended with the taxpayers earning a $22.7 billion profit, though critics noted there were additional, incalculable costs, such as a loss of public confidence in the financial system and a precedent for rescuing too-big-to-fail financial firms.

AIG has been touting the end of the bailout with print, TV and online ads titled "Thank You America." The ads, which have aired in recent weeks during college football bowl games and National Football League playoff games, note the company "repaid every dollar America lent us."

Where's Anonymous when you need them? I want to see Hackers FUCKING BANKRUPT AIG.

[stefan]

Originally Posted by RobinStarwing

Where's Anonymous when you need them?

Telling justin bieber fans to cut themselves.

[POS Industries]

Originally Posted by stefan

Telling justin bieber fans to cut themselves.

I think that's just /b/. There actually is a difference here, believe it or not.

[McTahr]

Originally Posted by POS Industries

I think that's just /b/. There actually is a difference here, believe it or not.

Correct. /b/ is the swill of the internet. Anonymous is like the drunken racist batman of the internet.

[RobinStarwing]

Both would have spent more useful energy destroying AIG.

This...this...

This is the most fucked up con swindle in history! Not even the Manhattan Purchase was this fucked!

This is just more proof we should outlaw and abolish currency of any type world wide and switch to a Barter-based Economy!

[Sithdarth]

This is just more proof we should outlaw and abolish currency of any type world wide and switch to a Barter-based Economy!

No we shouldn't because that is a terrible idea.

[Kim]

Originally Posted by Sithdarth

No we shouldn't because that is a terrible idea.

Correct. Bartering is fartz.

What we should actually be doing is nationalizing the banking system and telling the stockholders to go fuck themselves.

[Magus]

So can we for once agree that the U.S. court system being corrupt and in favor of the Man is a good thing this time because how the hell is AIG going to win a court case against the U.S. government for 26 billion dollars in courts run by the U.S. government?

[Doc ock rokc]

Wait wait wait...They are suing the US for saving their shit for brains company...then making a profit SAVING the company as well as Selling the company back out to the public...

What...

[RobinStarwing]

Originally Posted by Doc ock rokc

Wait wait wait...They are suing the US for saving their shit for brains company...then making a profit SAVING the company as well as Selling the company back out to the public...

What...

Pretty much what is on the tin.

Which is why I also react as "WHAT THE FUCK?"