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WTF? Former AIG CEO sues US government (taxpayers) for 25 billion

 
Soultrain
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User ID: 1517986
Canada
11/24/2011 07:06 AM
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WTF? Former AIG CEO sues US government (taxpayers) for 25 billion
A company run by former American International Group Chief Executive Maurice “Hank” Greenberg Monday filed a $25 billion lawsuit against the United States, claiming that the government takeover of the insurer was unconstitutional. In its complaint, Greenberg’s Starr International said that in bailing out AIG [AIG 21.01 --- UNCH ] and taking a nearly 80 percent stake, the government failed to compensate existing shareholders. It said this violated the Fifth Amendment, which bars the taking of private property for public use without just compensation.

[link to www.dvorak.org]

AIG accepted $182.3 billion of federal bailouts beginning on Sept. 16, 2008, amid a liquidity crisis spurred by its exposure to risky debt through credit default swaps.
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Anonymous Coward
User ID: 1531873
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11/24/2011 07:10 AM
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Re: WTF? Former AIG CEO sues US government (taxpayers) for 25 billion
Money eludes me.Speak in laymans tearms if u will sir.
Soultrain (OP)

User ID: 1517986
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11/24/2011 07:39 AM
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Re: WTF? Former AIG CEO sues US government (taxpayers) for 25 billion
He's saying some of the stockholders at AIG weren't properly compensated when they were bailed out by the government... however if they weren't bailed out, the stock value would probably be close to 0...
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