AIG will not join Hank Greenberg's lawsuit against the government, reports the WSJ as board...

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wyostocks Comments (5353)
 
Can't bite the hand that regulates them.
One never knows when the next bailout might be needed.
9 Jan, 02:59 PM Reply Like

dividend_growth Comments (2748)
 
Wise decision.

While Hank has nothing lose, AIG has everything to lose.
9 Jan, 02:59 PM Reply Like

Doyle3000 Comments (732)
 
Kudos to AIG for thinking this through and making the right decision. NO ONE will be on Greenberg's side in the court of public opinion and there's no jury in the US who isn't aware that they as taxpayers bailed out AIG very recently.

Greed has no limits apparently
9 Jan, 03:07 PM Reply Like

yv204 Comments (114)
 
Heh, maybe AIG wants to sue Hank for the hit to the company image.
9 Jan, 03:08 PM Reply Like

littleboymaker Comments (53)
 
This is the RIGHT decision. Long AIG.
9 Jan, 03:09 PM Reply Like

LeahyInvestor Comments (26)
 
AIG almost hurt their brand for being so stupid, and Greenberg needs to shut up and move on. Bottom line the company couldn't survive, since their assets would had gone for almost nothing. Greenberg argued for help, saying it has a trillion in assets but needs time to get better prices. Saying thank you and then suing, is like saying Thank you America and spit in their face. That is just the worst and no ad can counter this type of press.
9 Jan, 03:12 PM Reply Like

Joe Eifrid Comments (235)
 
Long AIG here too!
Hank Greenberg thinks the government abused their use of power with AIG, how would like to be a Fannie or Freddie shareholder? The Treasury charged both FnF a BILLION dollars each just to be put them into conservatorship. Then they forced both to draw funds that they did not need issuing senior preferred shares to the Treasury, and then required them to pay an onerous 10% dividend on those shares. Combined FnF have paid over $50 BILLION in dividends. Then in August the Treasury demands that starting this year FNF is required to hand over ALL profits to the Treasury in the name of dividends. Fannie has drawn $116.1 bil. from the Tsy, and has paid $28.5 bil in dividends as of the last 10-Q. Taxpayers net investment in Fannie is now $84.7 bil. If Fannie shows the same profits next year as this, they would be turning over to the Treasury nearly $13 bil in profits, for a lofty 15% return on the taxpayers net investment. On top of all of this, the Treasury issued themselves warrants for 79.9% ownership in FNF. At least the AIG shareholders could pay back the Treasury and escape their debtor prison.
9 Jan, 03:25 PM Reply Like

Doyle3000 Comments (732)
 
Fannie and Freddie were as guilty as AIG and the appraisers and everyone else in the scheme. They gave my damn nanny a mortgage with no documented income only 4 years after giving me a financial colonoscopy to get my first mortgage.

They all deserved what they got. The punishment fit the crime and a lot of them would have been in jail had their been a few more regulations in place at the time.

Don't do the crime if you can't do the time
10 Jan, 10:47 AM Reply Like

quinet Comments (9)
 
Correct decision, one should never slap Santa Claus in the face.
9 Jan, 03:32 PM Reply Like

Destin Comments (418)
 
The soullessness of people like Greenberg never ceases to amaze me. No amount of money will ever be enough for them. Good for AIG management. Long AIG TARP warrants.
9 Jan, 04:55 PM Reply Like

jerryf01 Comments (28)
 
Greenberg has more money than God, older than the hills, and from what I understand, a dead man does not need pockets, why still grubbing for $$$.
Oh yes I forgot, Greed is good!
9 Jan, 07:18 PM Reply Like

Want2buygold Comments (31)
 
AIG make the right decision.
Tax payers are willing to forgive you once.
But dont rear the ugly head of greed again, but instead show gratitude to Society.
9 Jan, 08:45 PM Reply Like