Remember AIG, the insurance company that had to be bailed out to the tune of $182 billion, the biggest federal bailout in US history?Well, Maurice "Hank" Greenberg, the ex-CEO of AIG is back, and this time he wants $25 billion for his troubles:
Former American International Group CEO Maurice "Hank" Greenberg thinks he got a raw deal, and he wants the government to pay up. Greenberg filed a lawsuit in the U.S. Court of Federal Claims asserting that the government bailout and takeover of the insurance giant was an unconstitutional seizure of private property, The Wall Street Journal reported Monday. Greenberg's Starr International Co., which used to be AIG's biggest stakeholder, is seeking $25 billion in damages, based on the value of the 80 percent stake in AIG the government took after providing it with an $182 billion bailout.Raw deal, eh?
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