American International Group Inc. (AIG) said it has a duty to weigh joining a suit by former Chief Executive Officer Maurice “Hank” Greenberg that claims the insurer’s 2008 U.S. bailout was unconstitutional.Let's recap, shall we? AIG was going under in 2008 because those greedy morons had underwritten the junk "collateralized debt obligations" that were based on subprime mortgages. We, the American taxpayers, through our government*, coughed up close to $200 billion to bail those fuckers out.
Sure, a lot of that has been repaid or recovered by the Government selling the stock it took from AIG. But that was by no means a sure thing over four years ago, when we rescued those thieves from their own folly.
And now, AIG is going to complain that saving their dead asses was unconstitutional? That'd be like a drowning man suing thelifeguards because he didn't appreciate the way that they saved his ass.
The next time the banksters need a rescue (and mark my words, there will be a "next time"), we would do well to apply other methods:
Update: After much public outrage and mockery, AIG decided not to get involved with the lawsuit. Probably means that the guy involved will sue them, too. Screw him.
Update II: As suggested in the comments, read Matt Taibbi's take on this story. I have one quibble, though: The headline used for Taibbi's piece should have deleted the sixth and seventh words.
* The Bush Administration.