Not long ago, American taxpayers bought out the insurance giant A.I.G. They've recently launched an ad campaign thanking you, the taxpayer, for the help.
Saying thank you, many parents would argue, is an American value. But you might also be interested to know that A.I.G. is also considering suing you, the American taxpayer (by way of the federal government) for depriving it's shareholders of profits.
Michael de la Merced, reporter for The Times' Deal Book, has been following the story.
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Comments [3]
The commercial thanks the American people, but it was the politicians that bailed out AIG and others. Then to turn around and attempt to suit the government that bailed them out of their own negligence to ensure profitability. That is biting the hand that feeds it. It is a slap in the face to those who helped them. I remember a story about a family during the 1930 depression that bought a house and the bank made them pay 75% interest on the loan and they are complaining of the relatively small user fee compared to what that family had to pay or what we pay in fees at banks and leading institutions now a days. What comes around, goes around. I would have rather they had taken the option of bankruptcy, and just said good day.
Let's just give A.I.G. a certificate that says they own a kilogram's worth of the trillion dollar coin.
Oh, and the coin should be like a pirate doubloon, you can break it up like a chocolate bar
Shame on Hank Greenberg, shame on the AIG shareholders and shame on AIG! Without government intervention, they would have NOTHING. The management team and board of directors should be glad they are not in jail
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