AIG Lawsuit: Elizabeth Warren Rips AIG For Thinking About Suing the US
Senator Elizabeth Warren (D-Mass.) ripped American International Group (AIG) for thinking about suing the federal government over the $182 billion taxpayer-funded bailout it received during the 2007 financial crisis — reported HuffPo.
AIG is reportedly thinking about joining a $25 billion shareholder lawsuit, because it thinks the terms of the bailout were "unfair."
And here's what Senator Warren had to say about it:
Beginning in 2008, the federal government poured billions of dollars into AIG to save it from bankruptcy. AIG's reckless bets nearly crashed our entire economy. Taxpayers across this country saved AIG from ruin, and it would be outrageous for this company to turn around and sue the federal government because they think the deal wasn't generous enough. Even today, the government provides an ongoing, stealth bailout, propping up AIG with special tax breaks — tax breaks that Congress should stop. AIG should thank American taxpayers for their help, not bite the hand that fed them for helping them out in a crisis.
The AIG board will meet Wednesday to make a decision. Meanwhile, the White House has so far declined to comment about it.