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While A.I.G. comes under fire from Congress over executive bonuses, it is quietly fighting the federal government for the return of $306 million in tax payments, some related to deals that were conducted through offshore tax havens.
A.I.G. sued the government last month in a bid to force it to return the payments, which stemmed in large part from its use of aggressive tax deals, some involving entities controlled by the company's financial products unit in the Cayman Islands, Ireland, ...
Originally posted by grover
No A.I.G. is a symbol of the failed policies of deregulation. The law against default swaps was put into place after the roll they played in the 1907 panic... the banking and insurance ban was put into place after the crash of 1929 as was the laws requiring them to have enough assets on hand to cover their accounts etc. All and many more were repealed by the no nothing no taxes no regulations at any cost crowd.
Originally posted by kozmo
Ya know... I don't fault AIG here. If they are owed wrongfully collected tax dollars then they should receive them back.
On a more serious note. What REALLY needs to happen is that all of the politicians and all of the corporate execs responsible for all of this need to be thrown in prison!!!
Originally posted by vor78
reply to post by j2000
Yeah, that's the stupid part of it, alright. The federal government now owns what, 80% of AIG? We're basically suing ourselves. But the good news? At least the lawyers on both sides will get rich.
And people wonder why some of us want a drastic reduction in the size of that government. These idiots couldn't manage a lemonade stand.
Originally posted by jd140
reply to post by HunkaHunka
I think they are pieces of crap. But if those taxes should never had been collected, then that money is theirs. Now if the government thinks that said money should go towards their debt then the two of them can work out a deal.
I don't think we should just say, okay you owe us money, we are going to take this much from you and be back for the rest later.