Former boss of deadbeat AIG suing government for $25 billion

The former boss of insurance giant AIG, Hank Greenberg, is suing the federal government for at least $25 billion. The lawsuit claims AIG was underpaid and charged too high interest when Washington spent $130 billion to bail out the company in 2008. However, even three years after the bailout, AIG’s market worth is still less than the money the feds paid to save it. The government’s remaining $50 billion stock holdings are only worth about $30 billion.

Dim BulbOpinionOther Opinion

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Cities including San Francisco, Oakland and Berkeley are calling for large grocery and drug store chains to pay employees hazard pay for working during the COVID-19 pandemic. (Shutterstock)
SF proposes $5 hazard pay law for grocery, drug store workers

San Francisco may soon join the growing number of cities requiring large… Continue reading

Hikers walk along a closed stretch of Twin Peaks Boulevard on Friday, Jan. 22, 2021. (Kevin N. Hume/S.F. Examiner)
SFMTA board to vote on future of Twin Peaks Boulevard

The proposal would keep Burnett Avenue gate closed to vehicles, open Portola Drive

Kindergarten teacher Jennifer Klein collects crayons from students in the classroom at Lupine Hill Elementary School on Monday, Nov. 9, 2020 in Calabasas, California. (Al Seib/Los Angeles Times/TNS)
Newsom, legislators strike deal to reopen California schools

Taryn Luna and John Myers Los Angeles Times Gov. Gavin Newsom and… Continue reading

A sign about proposed development of the bluff at Thornton State Beach in Daly City on Friday, Feb. 26, 2021. (Kevin N. Hume/S.F. Examiner)
Retreat center proposed at popular state beach

Daly City residents oppose construction on ocean bluffs

City supervisors are calling for an expansion of free summer programs for elementary age kids. (Kevin N. Hume/S.F. Examiner)
Supervisors urge city to provide free summer programs for all SFUSD students

San Francisco supervisors on Monday announced a proposal to expand summer programs… Continue reading

Most Read