Saved By Bailout, AIG Mulls Lawsuit Against Government

Tuesday, 08 January 2013 | by Pat's Picks

Talk about chomping on the hand that hand that fed you. The New York Times says AIG is considering joining a $25 billion lawsuit against the federal government. Despite its $182 billion bailout, which the company just paid back, and despite its “Thank you, America,” advertising blitz, the lawsuit would accuse the government of violating the Fifth Amendment, which bans taking private property for “public use, without just compensation.” According to the Times, Maurice R. Greenberg, AIG’s former CEO and still a major shareholder, brought the lawsuit in 2011 and is urging his former company to join.

SOURCE: New York Times