Ex-AIG CEO Greenberg loses appeal over 2008 bailout

Discussion in 'Wall St. News' started by dealmaker, May 9, 2017.

  1. dealmaker

    dealmaker

    ByJonathan Stempel
    n" style="transform: translate3d(0px, 0px, 0px);">A federal appeals court threw out a ruling that the U.S. government illegally bailed out insurer American International Group Inc (AIG.N) during the 2008 financial crisis, in a defeat for former chief executive officer Maurice "Hank" Greenberg.

    The Federal Circuit Court of Appeals in Washington said Greenberg's Starr International Co had no legal right to challenge the bailout because that right belonged to AIG, which chose not to sue.

    Tuesday's decision by a three-judge panel was a victory for the government in a lawsuit testing its power to bail out companies, including those deemed "too big to fail."

    http://www.reuters.com/article/us-aig-bailout-idUSKBN1851OU?il=0
     

  2. Only in America, a crook can sue the government! This Rat committed fraud when he was the head of AIG and in my opinion, he should spend the rest of his life in prison.;)
     
    Last edited: May 9, 2017