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25 billion lawsuit over AIG bailout- The former head of the American International Group sued the U.S. government for $25 billion on Monday, claiming officials should have bailed out AIG instead of taking it over.
Maurice "Hank" Greenberg and his Starr International Company accused officials of discriminating against AIG.
"The government is not empowered to trample shareholder and property rights even in the midst of a financial emergency," Starr alleges in the lawsuit, which was filed in the U.S. Court of Federal Claims in Washington, D.C. Starr also sued the Federal Reserve Bank of New York in federal district court in Manhattan.
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Maurice "Hank" Greenberg and his Starr International Company accused officials of discriminating against AIG.
"The government is not empowered to trample shareholder and property rights even in the midst of a financial emergency," Starr alleges in the lawsuit, which was filed in the U.S. Court of Federal Claims in Washington, D.C. Starr also sued the Federal Reserve Bank of New York in federal district court in Manhattan.
Read the full story >>
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