Earlier this week, it was reported that AIG would reward taxpayers for their $182 billion bailout by suing the government over the terms of the rescue.
Bold progressive Elizabeth Warren immediately called out AIG and condemned its behavior:
Beginning in 2008, the federal government poured billions of dollars into AIG to save it from bankruptcy. AIG’s reckless bets nearly crashed our entire economy. Taxpayers across this country saved AIG from ruin, and it would be outrageous for this company to turn around and sue the federal government because they think the deal wasn’t generous enough,” said Warren in a statement. “Even today, the government provides an ongoing, stealth bailout, propping up AIG with special tax breaks — tax breaks that Congress should stop. AIG should thank American taxpayers for their help, not bite the hand that fed them for helping them out in a crisis.
Politico reports this afternoon that AIG’s board met and decided not to join the lawsuit being considered, representing an early victory for Warren and, by extension, American taxpayers.
“It’s just like someone maybe who is drowning in the water and who is saved by some hero and then says, ‘Hey, while you were saving me, you choked me a little bit. So I’m going to sue you.’ That’s simply what AIG is doing. Yesterday, Elizabeth Warren came out very publicly,” explained Progressive Change Campaign Committee co-founder Adam Green on C-SPAN this morning. “She’s not just keeping her head down, she’s keeping it straight, front and center and said, ‘This is absolutely wrong, this is unconscionable.’ And I think it’s a real breath of fresh air, that someone didn’t use weasly words and beat around the bush but to say bad corporate action is bad corporate action.” Watch it:
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