I am left wondering how many more ways A.I.G. can find to piss off the American public even though we, through the Federal Government, own 80% of the company?
I simply can not believe that AIG is suing for return of back taxes. We gave them nearly $200 million and they want us to foot the bill to fight both sides of a legal battle for $305 million more. In my opinion it is time to cash in our chips (ownership rights) and replace that entire Board of Directors.
Correction .. It is almost $200 BILLION we gave them so far. So easy to get the numbers wrong with the way new high points keep getting thrown out there. Remember when we thought the deficit was bad at hundred of millions, then billions and now were are up to trillions? Keep your eyes out for the use of the quadrillion.
The simple fact remains that these people are only employed because of our $200 billion bailout. And then they have the actual gall to sue the Feds for $305 million more, while forcing us to pay the legal bills both for A.I.G. pursuing the case, AND the Government defending against the suit! I’ve come to discover that there are dumber people than politicians … A.I.G. executives.
Yes, I did discuss the bonuses in an earlier post a few days back. Yes, there were contracts stipulating bonuses would be paid and the government was aware of these contracts. Could they have been renegotiated? Most likely. Were they ironclad contracts? Unlikely as few contracts don’t have a weakness that can be exploited.
This posting though is about the fact that AIG is suing for repayment of back taxes. A situation where the greedy nature of those in charge continues unabated and we the people are forced to foot the bill for both the claimant and the defendant. An asinine proposition to say the least.
Please feel free to read the original story that inspired this post:
A.I.G. Sues U.S. for Return of $306 Million in Tax Payments
By Lynnley Browning (New York Times)