Former AIG insurance boss suing the federal government 

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.

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Staff Report

Staff Report

A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
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