AIG Bits The Hand That Feeds

In the last post, I just got done talking about this, where the Jack Wagons will be going after piles of money from their buddies for the cream is gone from the bucket.  The poor dears, go to the mirror you created this for yourself.

People of America we're watching

The move would be something of a shock, given that AIG just launched a high-profile television ad campaign called "Thank you, America," in which it offers the public its gratitude for the bailout. On Tuesday, the company promoted the ads again on Twitter, even as it came under fire over the lawsuit.

AIG



If AIG enters this suit it would be the equivalent of a patient suing their doctor for saving their life," said Mark Williams, a former Federal Reserve bank examiner who teaches in the finance department at Boston University.

AIG's board of directors had an alternative choice to borrowing from the Federal Reserve and that choice was bankruptcy. Bankruptcy would have left all AIG shareholders with worthless stock," a representative of the bank said Tuesday.

Greenberg, (Maurice R. Greenberg, A.I.G.’s former chief executive, who remains a major investor in the company) whose Starr International owned 12 percent of AIG before its near-collapse, has accused the New York Fed of using the rescue to bail out Wall Street banks at the expense of shareholders, and of being a "loan shark" by charging exorbitant interest on the initial loan.

The U.S. Treasury declined to comment. It completed its final sale of AIG stock in mid-December, concluding the bailout with what Treasury called a positive return of $22.7 billion. AIG shares fell 1.2 percent to $35.49 in afternoon trade. After losing half its value in 2011, the stock rose more than 52 percent in 2012, tripling the gains of the broader S&P insurance index. (good the Fed should put this into Social Security for we are being warned of yet another cliff hanger)

American International Group Inc, the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totaled $182 billion, may now join a lawsuit against the government alleging the terms of the deal were unfair.


Cramer: The Market's Fate Rests With AIG
Jim Cramer explores the two possible scenarios for AIG and the ramifications of both.

TheStreetTV



Now for some news about the grateful AIG around the web from customers that have done business with them in Team Life Insurance,  and they call the Fed loan sharks, the poor dears!

Update: The board of directors of AIG has decided not to pursue the lawsuit against the Feds after a barrage of criticism from you!
Now I want to point this out, times have changed, look what happens in the media today when the consumer is pissed off.  Your seen and heard around the world so let the grading begin and with that, the Jack Wagons have nowhere to hide, you will close their doors!

G.C.C.U.   

That's it enough already!

Pissed Consumer 

AIG Life Insurance

Ripoff Report

Overview

Wolf in sheep’s clothing