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AIG considers joining bailout lawsuit against U.S. government

Jan 09 2013 Reuters

American International Group Inc, the insurer rescued by the U.S. government in 2008, said on Tuesday it is considering joining a lawsuit that claims the bailout terms were unfair, drawing angry condemnation from lawmakers. A leading congressional Democrat called criticism of the deal's terms "utterly ridiculous," and former New York Attorney General Eliot Spitzer - who probed AIG when he was in office - called the prospect of a lawsuit "insulting to the public." The White House declined to comment on the potential for a lawsuit but defended the $182 billion bailout. Newly elected Senator Elizabeth Warren, feared by Wall Street as a potential thorn in its side on the Senate Banking Committee, called the lawsuit talk "outrageous" and said the company should not "bite the hand that fed them for helping them out in a crisis." In a statement late Tuesday, AIG said it had no choice but to consider the demand from its former chief executive, Hank Greenberg, and his holding company

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