Wednesday, January 9, 2013

AIG Takes the Cake for Gall

Buttwipes. Image from ThinkProgress
Have you seen those heartwarming AIG ads (oddly enough, as I type this, one is airing during an episode of The New Normal), talking about how they're so grateful that we--the American public--bailed them out, and how they paid us back with interest? "Thank you, America!" they say. Don't get teary eyed, they're just buttering you up. For what, I have no idea. But they intend to take some of that interest they paid us back. It's pretty galling. They were only saved because of the damage their stupidity would have wrought on the economy if we hadn't bailed them out. Now they complain about the terms?


Oddly enough, as I type this, one is airing during an episode of The New Normal.  

American International Group, the mega-insurer that nearly collapsed in 2008 before being bailed out, is now considering joining a lawsuit filed by its former chairman against the federal government. The lawsuit, filed in 2011 by former AIG chairman Maurice Greenberg, contends that the federal government violated the Fifth Amendment by taking too large a share in the company and charging it excessive interest rates on the $182 billion in loans it gave the company. . .

Read more at: Think Progress

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