Remember AIG? They are the mega financial company that the Bush Administration said was too big to fail, so they (meaning us U.S. taxpayers) bailed them out to the tune of 180 Billion Dollars.
Well, they have figured out a way to get some cash to re-pay the bail out money. They are considering joining a lawsuit by several bailout beneficiaries which claims that the terms placed by the Administration for accepting the Bailout Billions was too onerous….
Yep. They are considering suing the Federal Givernment for being too tough on them (after we gave them 180 Billion smackers…).
How perfect is that? Don’t worry about losing money on the market, just make it so much they are afraid you’re too big to fail. That way the Givernment will loan you enough money to pay your bills and avoid bankruptcy. Then, when it’s time to repay the loan, just sue them for not being nice enough to you and use that money to repay them….
Wow, what a world….
Update: After a good deal of outrage from the public AIG has decided not to join the lawsuit But the AIG shareholde ARE pusuing it!
Live Long and Prosper....