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Forum Post: AIG considering suing the US government (which bailed them out) because AIG shareholders lost money in the financial crisis

Posted 1 year ago on Jan. 8, 2013, 5:55 p.m. EST by toobighasfailed (117)
This content is user submitted and not an official statement

The NYTimes reports that according to court records, AIG is considering joining a $25 billion lawsuit against the US government because its shareholders lost a lot of money in the aftermath of the crisis.

While it's true that the shareholders lost money, what's galling is that AIG (and the shareholders) would have been in financial ruin without the aid of US taxpayers. Indeed, AIG would be suing the US government after the government gave AIG a $182 billion bailout (a portion of which went to executive bonuses) plus billions of dollars in tax breaks.

So, if there's a firm out there looking to generate public outrage, this is how they could do it.

  1. Demand a $182 billion bailout

  2. Use the bailout for bonuses + paying off Wall Street banks

  3. Hold a meeting to consider suing the government because your shareholders didn't get a large enough cut of the money

Ridiculous.

See the meme here: http://www.switchyourbank.org/how_to_generate_public_outrage_aig_style

15 Comments

15 Comments


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[-] 0 points by VQkag2 (16478) 1 year ago

Would you be willing to sign petition to takeaway AIG tax preferences?

http://my.elizabethwarren.com/page/s/aig?source=20130108em#.UO3MA3fiuSo

[-] 1 points by GirlFriday (17435) 1 year ago

Yes. But, I would like to wait a few hours and see if AIG issues a statement on their decision. I would like the emotional gratification of a screw you signing.

[-] 0 points by VQkag2 (16478) 1 year ago

Strategic. Niiiiiice!

[-] 2 points by TrevorMnemonic (5827) 1 year ago

wow

I'm at a loss for words.

[-] 1 points by bensdad (8977) 1 year ago

AIG announced they will NOT sue

[-] 1 points by DKAtoday (28256) from Coon Rapids, MN 1 year ago

Isn't this what white collar crime is all about?

People - WTFU

Fundamental change for the better for ALL - will only come through the involvement and actions of The People.

Consider:

http://occupywallst.org/forum/what-do-you-think-of-a-rolling-jubilee-type-action/

http://occupywallst.org/forum/sue-the-government-for-failure-to-prosecute-proper/

[-] 1 points by DKAtoday (28256) from Coon Rapids, MN 1 year ago

Already did.

[-] 1 points by Gillian (1842) 1 year ago

The epitome of sociopaths in suits.

[-] 0 points by VQkag2 (16478) 1 year ago

Please sign petition to take away AIG tax preferences

http://my.elizabethwarren.com/page/s/aig?source=20130108em#.UO3MA3fiuSo

[-] 1 points by DKAtoday (28256) from Coon Rapids, MN 1 year ago

Signed.

What I said on the petition:

Down with rewarding white collar crime. Prosecute criminals do not reward them. Why do you think the USA's and the Worlds Economy is so Toxic and set to crash without a moments notice? TooBigToFail also considered TooBigToJail ? This is the heart of our economic problems - criminals being bailed out supported and rewarded for being criminal.

End this perversity.

[-] 0 points by VQkag2 (16478) 1 year ago

Well said. (as always). Small action but meaningful still.