Sunday, October 12, 2014

AIG Sues Gov't Calling Bail-out Terms Unfair


...The lawsuit alleges the government’s $184.6 billion bailout was an illegal “taking” of sorts, exceeding the government’s authority. Greenberg believes that bailout money, which bought 92% of the company, was an unfairly low valuation. Even though Stewart pointed out that, at the time of the bailout, AIG was only valued at $15.4 billion, the CEO’s lawyer alleged that the government’s actions were tantamount to “extortion.”
“As a general rule, your better extortionists, your better kidnappers extract money from their victim,” Stewart mocked. “You never hear this — ‘Hey, listen, if you ever want to see your precious little doggy again, you’re going to take the $184 billion and once you get the money, we will also give you your dog back!”

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