Taxpayers Fund AIG Lawsuit Against US

AIG, now infamous for their executive bonuses, has decided that the $200 billion they received from the government is not nearly enough and is suing the government for the return of $306 million in tax payments. "AIG is effectively suing its majority owner, the government, which has an 80 percent stake and has poured nearly $200 billion into the insurer in a bid to avert its collapse and avoid troubling the global financial markets. The company is in effect asking for even more money, in the form of tax refunds. The suit also suggests that AIG. is spending taxpayer money to pursue its case, something it is legally entitled to do. Its initial claim was denied by the Internal Revenue Service last year."

This is Completely PROPER!!

[kwandar]

What as stupid article!!

The US government, although the largest shareholder is not the ONLY shareholder. Minority shareholders have rights and a successful lawsuit benefits them too.

I wish people would give their heads a shake!

In other news...

[nonregistered]

Tru-Value states there has been a run on pitchforks.

Re:today's xkcd

[Reality Master 201]

How dare you consider using perspective and logic? This is about anger and screaming and smashing stuff!

Re:Is anyone surprised?

[jollyreaper]

Seriously people, at what point do we get off the couch and take back this country? Obama can stimulate my ass.

That might make your prostate happy but what about the rest of us?

Re:Is anyone surprised?

[Shakes268]

I am stunned that you can speak of the Chosen One in such a manner. Your punishment is that you are forever required to speak on from a teleprompter.

Re:Is anyone surprised?

[pieisgood]

Keynesian economics, as an idea, is very infectious. Why? Because, I guess, at some level people THINK this kind of action will work. Of course they aren't exactly following why the government is doing this (to prevent deflation). The problem is that now... it will cause massive inflation... or so I think. It's really not me thinking either, I just take Peter Schiffs word for it... if only because he demonstrated that he really is a professional in his field.

Re:Is anyone surprised?

[CannonballHead]

Totally agree. I found it ironic that people are so OUTRAGED that *gasp* AIG paid ~$165 million in bonuses to AIG execs (I'm not saying it was good or morally right or whatever, of course), and yet the billions and billions being spent on this, that, and the other thing, including bailouts (what is it now, somewhere around $1.7 billion? at least?) doesn't cause much outrage. It's "necessary spending." "Good for the economy." "Get us back on track." People are outraged that they lost $165 million to AIG execs, but not that they lost $1.7 billion to Federal spending projects. Which included AIG... *sigh*

Re:Great Article

[MozeeToby]

From the article you linked...

"These people need their trips to Baja, their spa treatments, their hand jobs," says an official involved in the AIG bailout,...

Wait... what was that? That must be a misquote or something...

..., a serious look on his face, apparently not even half-kidding. "They don't function well without them."

I guess not.

Re:Is anyone surprised?

[Jurily]

Seriously people, at what point do we get off the couch and take back this country?

Are you crazy? American Idol is on.

Re:I cannot believe the hubris...

[The Angry Mick]

If there has ever been a time for a corporate death penalty, it's right the fuck now.

Or, at the very least, a televised kick in the balls.

We could make it a game show, with a national lottery at dollar a ticket for the chance to be the one doing the kicking. Ad pricing could start at Super Bowl levels for the first episode, and double for each subsequent show. The money from the lottery and ad buys could be used to buy up the toxic assets, or buy out the predatory mortgages and relocate the victims into something actually affordable (in Florida).

It'd be a multi-win scenario. The public would get to vent its anger, the CEO's would learn a sharp, public and valuable lesson, and the corporate glass ceiling would be shattered as a host of women get sudden promotions to positions of power.

It's just like...

[Anonymous Coward]

It's just like the story of the grasshopper and the octopus.

All year long, the grasshopper kept burying acorns for winter, while the octopus mooched off his girlfriend and watched TV.

But then the winter came, and the grasshopper died, and the octopus ate all his acorns. Also, he got a race car.

Is any of this getting through to you?