Jump to content





Photo
- - - - -

AIG to Weigh Suing US Government For 25 Billion


This topic has been archived. This means that you cannot reply to this topic.
18 replies to this topic

#16 pstall

pstall

    Gazebo Effect

  • Joined: 24-November 08
  • PipPipPipPipPipPipPipPipPip
  • posts: 23,469
  • Reputation: 3,033
HUDDLER

Posted 14 January 2013 - 11:30 PM

2001 and 2003 the regulators went to a then Dem controlled Congress to reign F&F. But did nothing.

#17 Delhommey

Delhommey

    Moderator

  • Joined: 24-November 08
  • posts: 12,741
  • Reputation: 2,427
Moderators

Posted 15 January 2013 - 12:04 AM

Hey, come on! The Congress shell game is Meat's trick.

#18 Davidson Deac II

Davidson Deac II

    Senior Member

  • Joined: 24-November 08
  • PipPipPipPipPipPipPipPipPip
  • posts: 18,045
  • Reputation: 1,504
HUDDLER

Posted 16 January 2013 - 04:46 PM

Luckily the government has the power to just say "no you can't sue us." If this doesn't happen we better start looking into why.



Actually they don't in this case. In fact, the feds tried to get a federal judge to dismiss the case, but he wouldn't. In failing to dismiss the suit, Judge Wheeler said that if the government is demanding something it has no right to demand, then it would have been an illegal exaction, even if the leaders of AIG decided to go along.

AIG decided (correctly) not to join the suit, but it will be interesting to see how all this plays out. Did the government have a right to force the deal without the approval of the owners, ie shareholders. And did the government seize private property without paying the proper value for it?

#19 Kral

Kral

    Internet Legend

  • Joined: 28-February 09
  • PipPipPipPipPipPipPipPipPip
  • posts: 6,942
  • Reputation: 274
HUDDLER

Posted 16 January 2013 - 06:57 PM

Thanks DDII I am now inspired to actually look into this.