Skip to navigation


Be sure to subscribe to our Blog to stay in tune with
the latest and greatest about Recruitment Process Outsourcing

AIG May Seek to Sue the Fed for “Unfair” Interest Rates

Wednesday, January 09, 2013 11:16 am - by Everest
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

The former Chief executive of AIG (Maurice “Hank” Greenberg) is seeking to sue the Federal Government for the apparently criminal interest rates placed upon the 2008 bailout loan. Displaying either short term memory loss or a spectacular lack of decorum, the current leaders of the banking giant have made statements of their potential interest in joining in on the lawsuit. Lawmakers (especially on the Senate Banking Commission) are in an uproar about the company’s cheeky legal maneuver. No doubt this as a blatant case of biting the hand that feeds. Sure 14% is a pretty steep interest rate but, to be frank, this seems like a rude way to respond to a very large rescue. AIG didn’t have to take the Fed’s money, but their refusal would have meant bankruptcy. To get the whole scoop on this unfolding political drama, click the link below for the full Reuters article.

Read the Full Article

Tell us what you think...