Forum Post: AIG considering suing the US government (which bailed them out) because AIG shareholders lost money in the financial crisis
Posted 5 years ago on Jan. 8, 2013, 5:55 p.m. EST by toobighasfailed
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.
Demand a $182 billion bailout
Use the bailout for bonuses + paying off Wall Street banks
Hold a meeting to consider suing the government because your shareholders didn't get a large enough cut of the money
See the meme here: http://www.switchyourbank.org/how_to_generate_public_outrage_aig_style