Bailouts

AIG Decides Not to Join Lawsuit Against Government

Won't join former CEO's lawsuit that says AIG bailout was used as back door bailout of Wall Street

|

Common sense 1, jaw-dropping chutzpah, 0.

The AIG board met Wednesday to hear arguments over whether the giant insurer shouldjoin a controversial lawsuit against the government alleging that its 2008 bailout of the firm unfairly punished shareholders. Surely fearing a public relations blowback, it has elected not to join an effort launched by Maurice "Hank" Greenberg, a former chief executive of the company and major shareholder.