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Cummings Issues Statement on Potential AIG Lawsuit Against the Government
Washington, DC (Jan. 8, 2013) Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, issued the following statement in response to press reports today that the American International Group (AIG) is considering joining a $25 billion shareholder lawsuit against the government agencies that rescued AIG during the financial crisis: "The idea that AIG might sue the government is an unbelievable insult to our nation's taxpayers, who cleaned up the mess this firm created. I understand that AIG's board has a fiduciary duty to consider this action, but the simple fact is that AIG did not have to accept these terms -- it could have entered bankruptcy. This is like suing the paramedic who just gave you CPR because he didn't give you a pillow
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Cummings Issues Statement on Potential AIG Lawsuit Against the Government
Washington, DC (Jan. 8, 2013) Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, issued the following statement in response to press reports today that the American International Group (AIG) is considering joining a $25 billion shareholder lawsuit against the government agencies that rescued AIG during the financial crisis: "The idea that AIG might sue the government is an unbelievable insult to our nation's taxpayers, who cleaned up the mess this firm created. I understand that AIG's board has a fiduciary duty to consider this action, but the simple fact is that AIG did not have to accept these terms -- it could have entered bankruptcy. This is like suing the paramedic who just gave you CPR because he didn't give you a pillow
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