Unbelievable. The arrogance's of these bankers is mind boggling. The Government put up 134 billion dollars to keep AIG from collapsing, in order to prevent a meltdown of the entire global financial system through a mixture of loans, purchases of toxic assets, and purchases of preferred stock. AIG still has a 46 billion dollar credit line it could tab if it needs additional assistance. Greenberg accuses the Government of seizing 80% interest in AIG's common stock. Greenburg goes on to say that the Government implement a takeover of AIG without just compensation.
So not only does he expect a bailout, he wants it with no strings attached. As for compensation for AIG, it's value was far in the Negative territory. It cost 134 billion dollars to stabilize it, thus it's value was negative 134 billion far as I can see. At a time when Americans are outraged over the governemnt bailouts of the banks, they guy is so out of touch with the world, he files a lawsuit like this. The Wall Street protesters should wise the hell up and get off of Wall Street and start camping in front of this bastards house.
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Is what the collapse of America looks like? Maybe.
What an ungrateful incompetent dickhead. The US Government probably gave AIG more than what it was worth. I'm assuming he's looking for a fast settlement to go away, but this could be an interesting case to watch.
Isn't Greenberg the guy who was talking about the Gold fixtures in his Adriatic Palace?
Edit: No, that was the guy who took over AIG after the Crisis.
Greenberg loves Rick Perry:
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