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Former AIG Chief Sues Government Over Bailout
I'm no legal expert and have no idea if they have a case or not, but I do find it interesting.
"The government is not empowered to trample shareholder and property rights even in the midst of a financial emergency," Starr International says in the suits. It contends that the government discriminated in its action against AIG, by refusing to provide loans or loan guarantees or access to the Fed's discount borrowing window as it had to other financial institutions such as Citigroup Inc.
The AIG shareholders didn't agree "to the proposed taking of their property rights," the lawsuits say. They were filed against the government in the U.S. Court of Federal Claims in Washington and against the New York Fed in U.S. District Court in Manhattan.
The AIG shareholders didn't agree "to the proposed taking of their property rights," the lawsuits say. They were filed against the government in the U.S. Court of Federal Claims in Washington and against the New York Fed in U.S. District Court in Manhattan.