Insurance giant American International Group Inc the rogue financial giant, has filed a lawsuit against a Federal Reserve vehicle created during AIG’s bailout, it’s not clear but so far it looks like, AIG is not seeking monetary payments in the lawsuit. Greed and arrogance played a key role here — slap in the face for U.S. taxpayers — its equivalent to patient suing their doctor for saving their lives!!!
The lawsuit is part of the fallout from AIG’s $182.3 billion federal bailout that began in September 2008, and which was fully paid off last year. The case is American International Group Inc et al v. Maiden Lane II LLC, New York State Supreme Court, New York County, No. 650115/2013.
AIG received $182.3 billion in taxpayer money as part of the Troubled Asset Relief Program (TARP) bailout under the Bush administration to keep that private company and billions more to keep other huge Wall Street banks from going under.
AIG’s current Chairman Steve Miller said, “America invested in 62,000 AIG employees, and we kept our promise to rebuild this great company, repay every dollar America invested in us, and deliver a profit to those who put their trust in us. To date, AIG has returned $205 billion to America, including a profit of $22.7 billion. We continue to thank America for its support.”