Posted on 01/12/2013 7:46:30 AM PST by Lorianne
Even as it runs ads thanking America for a $182 billion bailout, insurer AIG might join a lawsuit claiming that shareholders were unfairly hurt by the terms of the federal rescue that kept it out of bankruptcy four years ago.
(Excerpt) Read more at money.cnn.com ...
GRRRRR
When the time comes for stringing up on lamposts, these execs should be first in line.
I know (or suspect) a little about Madison Ave., and I immediately saw, not AIG thanking America, but the actors/actresses in that ad represented the top brass saying thanx for kneeling down ... now swallow bitch.
Crude imagery?
Yep ... and it pisses me off
You can’t sue America. We need headline control more than gun control.
By the way, we have no real idea what went on behind closed doors when the government pretended the sky was falling in 08. This bailout wasn’t TARP, right? Which wasn’t very clear on terms, either, and I think majirly shifted focus a few dozen times after the law which no one actually teas was passed. But the direct Fed bailouts were even nuttier. Remember when Paulson and Bernanke were literally threatening martial law?
Should’ve tarred and feathered them instead of occupying Wall Street.
And the execs from UBS should be next in line for a necktie party.
You are reacting as they wish. Your time line is much too short. Your view too narrow.The blame should be directed to the puppet masters who run the criminal enterprise that is the Democrat party. .
Hank Greenberg is the one suing the government for stock losses on AIG stock resulting from misguided meddling. He was the CEO/Chairman. He was discredited and ousted by Eliot Spitzer.
The actions of the zealot New York Attorney General discredited Mr Greenberg forcing loss of control. The company was taken over by Eurocrat apparatchiks that transformed the company such that it insured the tranches of bad loans securitized and peddled all over the world. The forceful takeover of AIG enabled the housing loan debacle.
Mr Spitzer’s reward was governor of New York. He pissed off old Hank who spent a trifle of his billions learning and then exposing the fact that the Governor was in fact Client #9 of a Washington DC prostitution company
Day before yesterday AIG declined to become part of the suit. Old Hank in court is going to expose all the Eurocrat chicanery.
There will be no settlement....... he has more than enough money and is intent on exposing the whole Dodd Frank economic terror. Like Eliot Spitzer, the day of the Queeah from Massachuttes, Barney Frank, is coming
BTW.....The new regulations on bank loans are an admission of failure by the puppet masters.
My timeline is fine.
There never should have been any bailout to begine with.
The blame lies with the directors of the company. Let the shareholders take up their grievances with them.
NO BAILOUTS
EVER
My timeline is fine.
There never should have been any bailout to begin with.
The blame lies with the directors of the company. Let the shareholders take up their grievances with them.
NO BAILOUTS
EVER
Just as I told everyone that would listen - the bailouts were a sham and opportunity for thievery on the largest scale and the rape of American people who were told they should like it because it was what they needed.
I’d say AIG is biting the hand that fed it; the American taxpayers via proxy lender, US GOVT
It was the counterparties to AIG that were bailed out, like Goldman Sachs.
Hank Greenberg was forced out, the government basically appointed the next set of bosses who made the bad bets that blew it up. In a real bankruptcy, the bets to Goldman Sachs would have been adjudicated in relation to the bondholders and shareholders. Instead the government forced a takeover, Goldman Sachs (and other counterparties) were moved to the head of the line.
The primary issue here is or should be rule of law, not who did or did not make a business mistake. Business mistakes get punished by failure and bankruptcy. It was the failure to follow the rule of law that puts the government folks on the hook.
I agree that there should have been any bailout, rule of law, bankruptcy law, should have been followed.
The government appointed directors have a share of the blame, and the government folks who rewarded Goldman Sachs during the takeover have a share of the blame. And yet you want the let the government off the hook, even though they had their fingerprints on every bad move made here.
bs
either way, their execs benefitted from taxpayer money and even as they were the ones who ran the company into the ground in the first place
no quarter
Exactly
I’de say your right on that one.
Thank’s America & F. U. AIG
Isn’t AIG owned by brits
You just don’t get it do you?
The new directors are criminals. They are part and parcel of the grand conspiracy
No we don't, but what I'm sure of is that a lot of corruption was involved. AIG paid billions in insurance to foreign banks for credit swaps. AIG received taxpayer money and by law, Treasury/taxpayers can never be subordinated, but we were.
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