AIG may join $25B lawsuit over U.S. bailout

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

NEW YORK, NY – It looks like the insurance giant ‘we the people’ bailed out is thinking about suing us.

The word on the street is that the board of directors of American International Group will decide this week whether to join a $25 billion lawsuit filed by this guy, Maurice ‘Hank’ Greenberg, who used to be AIG’s CEO, but who is now the chief executive officer of Starr International, a company that once held a whole lot of AIG stock.

Okay, here`s the deal. Listen up.

Greenberg and Starr say Uncle Sam ripped off AIG by making the company sell off its best assets so big creditors and the American taxpayer could get their money back.

So now AIG’s directors are faced with a lose-lose choice. If they don’t join the suit, and Greenberg wins, stockholders, including Greenberg, could turn around and sue AIG for not joining the suit.

But, if AIG sues, it makes the new ‘thank you, America’ ad look pretty sad.