10 Jun

Bailout Recipient Demands More Money, Court of Federal Claims May Abdicate; Receives Golden Fleece

Former AIG CEO who’s Tenure Crippled the Global Economy Demands More Taxpayer Dollars

ALEXANDRIA, VA – Citizens for the Republic today announced that this week’s Golden Fleece Award is presented to the U.S. Court of Federal Claims amid the revelation that they may grant Maurice “Hank” Greenberg, at least $23 billion in damages for the bailout the U.S. government gave his company.

As reported by the Washington Post, insurance giant AIG, which was bailed out by the U.S. government in 2008 after the company almost brought down the entire global economy, is claiming that they are now entitled to damages. Hank Greenberg, former CEO of AIG, is claiming that taxpayers owe him at least $23 billion for the 80 percent of the company the Federal Reserve purchased from AIG in the bailout. This case was already dismissed in New York, but the U.S. Court of Federal Claims and Judge Thomas Wheeler have agreed to take up the case and early reports suggest that Judge Wheeler will side with AIG.

“We have come to expect this type of avarice from executives, but not from our judicial system,” said Diana Banister, Executive Director of Citizens for the Republic. “This further proves the alliance between Wall Street and DC that led to the economic downturn of the global economy is alive and well. This case is a slap in the face to every American who lost their home and received nothing while the corporations that destroyed their financial security walked away unscathed.”

 

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