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AIG would like to express its gratitude. Wait... WHAT?
01-08-2013, 11:49 PM #1
Kreeper Griobhtha
Posts:10,993 Threads:756 Joined:Feb 2011
Rescued by a Bailout, A.I.G. May Sue Its Savior

Quote:Fresh from paying back a $182 billion bailout, the American International Group has been running a nationwide advertising campaign with the tagline "Thank you America."

Behind the scenes, the restored insurance company is weighing whether to tell the government agencies that rescued it during the financial crisis: thanks, but you cheated our shareholders.

The board of A.I.G. will meet on Wednesday to consider joining a $25 billion shareholder lawsuit against the government, court records show. The lawsuit does not argue that government help was not needed. It contends that the onerous nature of the rescue - the taking of what became a 92 percent stake in the company, the deal's high interest rates and the funneling of billions to the insurer's Wall Street clients - deprived shareholders of tens of billions of dollars and violated the Fifth Amendment, which prohibits the taking of private property for "public use, without just compensation."


What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice
01-09-2013, 12:03 AM #2
UniqueStranger Art in my heart
Posts:14,877 Threads:444 Joined:Jun 2012
I can only say this .... "Only in America".
01-09-2013, 12:56 PM #3
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,185 Threads:1,485 Joined:Feb 2011
What a crock, in the end that too big to fail bailout proved the banks really do control everything and lawmakers are but puppets in the show.
If they were allowed to fail, and let free market capitalism take care of whatever, this economy would have been on it's way to full recovery.
Iceland had the right idea, and the world knows it.


01-09-2013, 02:38 PM #4
Kreeper Griobhtha
Posts:10,993 Threads:756 Joined:Feb 2011

This could be interesting. We need to keep an eye on developments.


What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice
01-09-2013, 10:22 PM #5
yankees skier
Posts:5,032 Threads:215 Joined:Feb 2011
Jon Corzine would also like to thank investors for letting him steal cash from their accounts. coffeetime.gif

01-09-2013, 11:01 PM #6
Shadow Incognito Anonymous
Amazes me no end he got away with that.
01-09-2013, 11:27 PM #7
Shadow Incognito Anonymous
Reminds me of a sad story I heard. There was a car crash, a witness of it ran to the crash scene and pulled a woman out of the wrecked car. The crash victim had neck injuries, ended up in a wheelchair and sued the woman who pulled her from the burning car. The injured woman is the banks, the rescuing woman is the American people and the wrecked car is the government and justice system.
01-09-2013, 11:30 PM #8
Shadow Incognito Anonymous
(01-09-2013, 11:19 PM)Cynicalabsurdance Wrote:  I'm not amazed

I'm not amused

I'm not confused

for a fucking fact , this is exactly what the fuck it has always been .

lucky fucking investors did not undergo fucking TORTURE !

btw, it was investor GREED that got them ripped off

so fuck 'em
they deserved to be ripped off .

rofl.gif rofl.gif but that's what stock markets are about! Greed! Money for nothing and the bottom gets the shaft. It's Ponzi.




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