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

AIG will not join Hank Greenberg's lawsuit against the government, reports the WSJ as board members are more concerned about damage to the firm's reputation rather than the wrath of Greenberg and his lawyers.
Comments (12)
  • wyostocks
    , contributor
    Comments (8242) | Send Message
     
    Can't bite the hand that regulates them.
    One never knows when the next bailout might be needed.
    9 Jan 2013, 02:59 PM Reply Like
  • dividend_growth
    , contributor
    Comments (2895) | Send Message
     
    Wise decision.

     

    While Hank has nothing lose, AIG has everything to lose.
    9 Jan 2013, 02:59 PM Reply Like
  • Doyle3000
    , contributor
    Comments (1427) | Send Message
     
    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 2013, 03:07 PM Reply Like
  • yv204
    , contributor
    Comments (167) | Send Message
     
    Heh, maybe AIG wants to sue Hank for the hit to the company image.
    9 Jan 2013, 03:08 PM Reply Like
  • littleboymaker
    , contributor
    Comments (65) | Send Message
     
    This is the RIGHT decision. Long AIG.
    9 Jan 2013, 03:09 PM Reply Like
  • LeahyInvestor
    , contributor
    Comments (98) | Send Message
     
    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 2013, 03:12 PM Reply Like
  • Joe Eifrid
    , contributor
    Comments (339) | Send Message
     
    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 2013, 03:25 PM Reply Like
  • Doyle3000
    , contributor
    Comments (1427) | Send Message
     
    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 2013, 10:47 AM Reply Like
  • quinet
    , contributor
    Comments (9) | Send Message
     
    Correct decision, one should never slap Santa Claus in the face.
    9 Jan 2013, 03:32 PM Reply Like
  • Destin
    , contributor
    Comments (472) | Send Message
     
    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 2013, 04:55 PM Reply Like
  • jerryf01
    , contributor
    Comments (45) | Send Message
     
    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 2013, 07:18 PM Reply Like
  • Want2buygold
    , contributor
    Comments (64) | Send Message
     
    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 2013, 08:45 PM Reply Like
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