As Becket reported earlier today, bailed-out insurance giant AIG is considering joining a multi-billion-dollar lawsuit against the federal government on behalf of disgruntled shareholders. As a new senator on the Banking Committee, Massachusetts’ Elizabeth Warren has taken notice… and she’s not amused.
Via Business Insider, Warren is circulating the following statement about AIG’s potential legal action:
“Beginning in 2008, the federal government poured billions of dollars into AIG to save it from bankruptcy. AIG’s reckless bets nearly crashed our entire economy. Taxpayers across this country saved AIG from ruin, and it would be outrageous for this company to turn around and sue the federal government because they think the deal wasn’t generous enough. Even today, the government provides an ongoing, stealth bailout, propping up AIG with special tax breaks—tax breaks that Congress should stop. AIG should thank American taxpayers for their help, not bite the hand that fed them for helping them out in a crisis.“
Hell hath no fury like a progressive politician scorned.