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FILE In this March 17, 2009 file photo, an AIG banner flies at the office building in New York. American International Group Inc. said Monday, Aug. 23, 2010, it is repaying nearly $4 billion in federal bailout loans. (AP Photo/Mark Lennihan, file) FILE In this March 17, 2009 file photo, an AIG banner flies at the office building in New York. American International Group Inc. said Monday, Aug. 23, 2010, it is repaying nearly $4 billion in federal bailout loans. (AP Photo/Mark Lennihan, file)  

Greenberg sues feds for $25 billion for AIG takeover

Photo of Kells Hetherington
Kells Hetherington
Contributor

NEW YORK (CNNMoney) — The former head of the American International Group sued the U.S. government for $25 billion on Monday, claiming officials should have bailed out AIG instead of taking it over.

Maurice “Hank” Greenberg and his Starr International Company accused officials of discriminating against AIG.

“The government is not empowered to trample shareholder and property rights even in the midst of a financial emergency,” Starr alleges in the lawsuit, which was filed in the U.S. Court of Federal Claims in Washington, D.C.

Full story: http://money.cnn.com/2011/11/21/news/companies/aig_greenberg_lawsuit/

 

 

 

 

NEW YORK (CNNMoney) — The former head of the American International Group sued the U.S. government for $25 billion on Monday, claiming officials should have bailed out AIG instead of taking it over.

Maurice “Hank” Greenberg and his Starr International Company accused officials of discriminating against AIG.

The government is not empowered to trample shareholder and property rights even in the midst of a financial emergency,” Starr alleges in the lawsuit, which was filed in the U.S. Court of Federal Claims in Washington, D.C.

Fully story: Greenberg sues feds for $25 billion for taking over AIG – Nov. 21, 2011.