Rescued by a Bailout, A.I.G. May Sue Its Savior

reply to post by RN311


Here is a good article on the subject, until last september the tax payers owned 92% of the company.

Government To Sell Controlling Interest In Bailed-Out AIG

www.npr.org...

Here are two lists for top shareholders. 99% of shares belong to insiders or institutions/funds holding 5%+ of the company.

Yahoo Finance AIG shareholders

Morning Star AIG Shareholders

And the one I find fascinating - executive compensation. 95.26 MILLION in 2008!

Executive Compensation

AIG underwrote all the Credit Default Swaps that were written on Wall St. so essentially when the housing market tanked in 2008 it was either bailout AIG or let the world economy implode. Which in retrospect might not have been a bad idea - could have gotten rid of some of these banks. But that didn't happen.

Now the Fed is buying these Credit Default Swaps/Bad Mortgages & putting the US Taxpayers on the hook for them ie QE3. So we are getting screwed anyway it went from AIG's books to the Federal Reserve books which is our book.

Thought the Chicomms bought a large percent of AIG or have been trying to buy it since 2008.

So, they don't like the Payday Loan Treatment when the tables are turned--what a surprise!

It's not good enough for the banks to throw the people that bailed them out out of their homes, nope! Sue the Government and get more! The greed knows no bounds.

reply to post by Tazkven


Thank you America for the blow job.

reply to post by Mountainmeg


Awesome research, thanks for the information Mountainmeg

if AIG can sue use (the gov't=the taxpayers really) because they feel the terms of the loan wasn't fair....
and win!!
then why can't we over our mortgages, which have been proven to be very, very questionable.

someone posted on the first page how he was wondering if this wasn't just a neat little way for our gov't to divert a nice sum of cash from the taxpayer's pool to the blackops.
I agree with him, that is what I am wondering also...
at this point the banks and the gov't are so tight that they probably aren't acting independently. the money aig used to pay off the gov't probably came from the fed and it's all one big shell game really

must be nice to be able to conjure up billions whenever it's convenient with a few accounting gimmicks and a dump populace that you can throw a bunch of lies to for them to belief.

there is probably no actual money involved in any of it, and really, none of the parties probably have a couple billion in cash let alone $25 billion...
just bits and bits in a computer data base.
wonder just how many bits and bites my computer can hold...maybe I can play the same game.

reply to post by dawnstar


No joke, I was thinking the same exact thing... So AIG can go back on a bad deal they made, but we cant??? AIG is epitome of what's wrong with our country...

reply to post by AzureSky


Inside Job full video link: vimeo.com...

ATS relevant topic: www.abovetopsecret.com...

I personally think you will find this is propaganda. If you look at the current 5d chart for AIG you will see that on the the morning of the 7th of jan there was the largest volume of shares traded this year yet the price goes down, This implies mass selling. How do people know this is the press release you cited was at 10.30pm. The morning the day after is very similar in volumes and ultimately took around 2p off the share price over the 2 days. Then at the end of the first quarter on 8th we start to see a reversal in price and what looks to be a rally. This is buying up of the shares driving the price higher. There is plenty of traders/brokers/hedge funds that have the capability to move a company's price like this and make profit on the up and downside. Coupled with a press release to cover there tracks, I would say this was some very smart insider trading.

But that's just one man's opinion

Source: finance.yahoo.com...

Edit: Shall look into this further this evening when I get some time. AU67

reply to post by dawnstar


That was me!! If this is indeed what they are doing it would work out perfectly for them because the American people wouldn't know any better then to blame AIG. I have a feeling that this maybe exactly what is going on......

reply to post by RN311


great con they got going on really....
gov't sits by while the banks and financial institutions make a fortune while ignoring laws, and tank the economy. then oops, they are caught!! oh no!! so well, they all act serious, bring in the regulators, lawyers and all that, and well, the gov't fines the businesses (payback for the priviledge of going years without any regulation!!)
add in a nice bailout, a few neat little lawsuits against the gov't, and boy, they are all making out like bandits, while we, well, we kind of get screwed!!

An update ... It appears AIG wised up and thought better of joining in on the lawsuit. The lawsuit was dismissed but Starr's lawyers say the case will continue.

Facing backlash, AIG won't join suit against U.S.

After its board of directors heard presentations from both sides Wednesday, AIG said it "has determined to refuse Starr's demand (to join the lawsuits) in its entirety, and will neither pursue these claims itself nor permit Starr to pursue them in AIG's name."

"In considering and ultimately refusing the demand before us, the board of directors properly and fully executed our fiduciary and legal obligations to AIG and its shareholders," said AIG Chairman Robert Miller. "To date, AIG has returned $205 billion to America, including a profit of $22.7 billion. We continue to thank America for its support."

But David Boies, Starr International's lead attorney in the lawsuits, voiced regret over the AIG board's decision and said the cases would continue.

"We continue to believe that the attempt by the AIG board to prevent Starr International from pursuing claims on behalf of AIG shareholders is contrary to the shareholders' interests," Boies said. "Whether or not the AIG board will be successful in blocking Starr's efforts to recover damages for their shareholders will ultimately be decided by the court."

The U.S. District Court in Manhattan in November dismissed the case filed there, but Starr International has filed a notice of appeal to that ruling. The U.S. Court of Claims in July denied government motions to dismiss the action filed there.

Source