DEFENDING THE AIG LAWSUIT? - JOHN BERLAU
Huffington Post: Matt Taibbi Sort of Defends AIG Shareholders' Lawsuit - for Good Reason
In a rant headlined, "Hank Greenberg Should Be Shot into Space for Suing the Government over the AIG Bailout," Taibbi calls Maurice "Hank" Greenberg -- AIG's CEO from 1968 to 2005 and current CEO of the financial services company Starr International that is filing the shareholder lawsuit -- "maybe the biggest douchebag of all time." But then comes the real shocker. Taibbi puts forth a partial defense of the reviled lawsuit. "Here's the funny thing about the lawsuit filed against the government," he writes. "It isn't all wrong. In fact, parts of it are quite on the mark."
Why is Taibbi defending the seemingly indefensible? Because he knows the real recipients of the federal government's "rescue" of AIG were not its shareholders, but his loathed "vampire squid," Goldman Sachs, as well as some of the largest banks in America and the world that were counterparties with AIG on risky mortgage bets. > View the full commentary at Huffingtonpost.com
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