HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Lawmakers Warn A.I.G. Not...

Tue Jan 8, 2013, 05:45 PM

Lawmakers Warn A.I.G. Not to Join Lawsuit Against U.S.

Source: nyt

As the board of the American International Group weighs whether to join a shareholder lawsuit against the United States government, several lawmakers have a simple message for the bailed-out insurer.

Don’t do it. Don’t even think about it.

With A.I.G. having fully repaid its $182 billion bailout only weeks ago, the prospect of the company trying to claw back some of the $22 billion in profit that its rescue generated for shareholders doesn’t sit right with several members of Congress. . .

“A.I.G. became the poster company for Wall Street greed, fiscal mismanagement, and executive bonuses – the taxpayer and economy be damned,” Representatives Peter Welch of Vermont, Michael Capuano of Massachusetts and Luis V. Gutierrez of Illinois wrote in the letter. “Now, A.I.G. apparently seeks to become the poster company for corporate ingratitude and chutzpah.”

And Senator Elizabeth Warren, the new Democratic senator from Massachusetts, added in her own statement:

“A.I.G.’s reckless bets nearly crashed our entire economy. Taxpayers across this country saved A.I.G. 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 A.I.G. with special tax breaks — tax breaks that Congress should stop. A.I.G. should thank American taxpayers for their help, not bite the hand that fed them for helping them out in a crisis.“




Read more: http://dealbook.nytimes.com/2013/01/08/lawmakers-warn-a-i-g-not-to-join-lawsuit-against-u-s/?hp

12 replies, 2562 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 12 replies Author Time Post
Reply Lawmakers Warn A.I.G. Not to Join Lawsuit Against U.S. (Original post)
elleng Jan 2013 OP
Angry Dragon Jan 2013 #1
Sherman A1 Jan 2013 #4
BlueNoteSpecial Jan 2013 #2
1StrongBlackMan Jan 2013 #3
Demeter Jan 2013 #5
cbrer Jan 2013 #6
elleng Jan 2013 #7
cbrer Jan 2013 #8
DavidWD72 Jan 2013 #9
elleng Jan 2013 #10
lib2DaBone Jan 2013 #11
Jeevus Jan 2013 #12

Response to elleng (Original post)

Tue Jan 8, 2013, 05:52 PM

1. throw the bastards in prison where they belong

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #1)

Tue Jan 8, 2013, 06:02 PM

4. Precisely

That should have been done from the start.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to elleng (Original post)

Tue Jan 8, 2013, 05:55 PM

2. Hey A.I.G., please, for pete's sake..........don't listen, ok?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to elleng (Original post)

Tue Jan 8, 2013, 05:55 PM

3. What's that punchline to the story ...

about the snake (or scorpion) and the frog again?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to elleng (Original post)

Tue Jan 8, 2013, 06:38 PM

5. Or what? The Fed will throw more money at AIG?

Minus 10% for bad behavior? That's the standard....

Reply to this post

Back to top Alert abuse Link here Permalink


Response to elleng (Original post)

Tue Jan 8, 2013, 06:40 PM

6. Hmm...If we'd allowed them to go bankrupt nt

 

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cbrer (Reply #6)

Tue Jan 8, 2013, 07:13 PM

7. HUGE problem was that they were so large,

held so many OTHER insurance interests, that doing so could have devastated many real people. The lesson, if any, is enforce antitrust laws and principles, don't allow any entity to acquire so many similar entities.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to elleng (Reply #7)

Tue Jan 8, 2013, 07:19 PM

8. Sometimes the best way to make change

 

is to suffer the current situation.

Negative feedback was programmed into us by nature for a reason. I hate the thought of the amount of suffering that AIGs collapse could cause. I hate the hostage situation we have now MORE.

GOPs solution? Grandma's got to eat more cat food. We can't afford social security at its current level.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to elleng (Original post)

Tue Jan 8, 2013, 07:53 PM

9. Time to finish the job...

AIG wants to sue, bitch, piss and moan? Too big to fail should equal too big to exist. Break it up like ma bell way back when.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DavidWD72 (Reply #9)

Tue Jan 8, 2013, 07:55 PM

10. SHOULD HAVE happened years ago.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to elleng (Original post)

Tue Jan 8, 2013, 08:06 PM

11. Don't join the lawsuit...because if the truth came out....

 

...WE WOULD BE SCREWED.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to elleng (Original post)

Tue Jan 8, 2013, 09:45 PM

12. Don't listen to them AIG.

It's a great idea.

No doubt the American people will love it too.

Everybody loves you AIG.

Just carry on.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread