Wednesday, January 9, 2013

Elizabeth Warren Slams Possible AIG Lawsuit

From Huffington Post:

Sen. Elizabeth Warren (D-Mass.) slammed American International Group on Tuesday for thinking about suing the federal government over the $182 billion taxpayer bailout the insurance giant received during the financial crisis.

AIG is considering whether to join a $25 billion shareholder lawsuit claiming that the terms of the bailout were unfair.
"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," said Warren in a statement. "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."

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