January 8, 2013
Rep. Mike Capuano joined Rep. Peter Welch and Rep Luis Gutierrez in warning American International Group (AIG) not to sue the U.S. government over the taxpayer-funded rescue of the company.
In a letter to AIG Chairman Robert S. Miller, the lawmakers write: “AIG became the poster company for Wall Street greed, fiscal mismanagement, and executive bonuses — the taxpayer and economy be damned. Now, AIG apparently seeks to become the poster company for corporate ingratitude and chutzpah.”
“Taxpayers are still furious that they rescued a company whose own conduct brought it down. Don’t rub salt in the wounds with yet another reckless decision that is on par with the reckless decisions that led to the bailout in the first place.”
News reports indicate that AIG is actively considering suing the U.S. government over the $182 billion dollar rescue of the bank at the height of the financial crisis, arguing that the bailout deprived shareholders of tens of billions of dollars in profits.
Contact: Alison M. Mills (Rep. Capuano) 617-621-6208