AIG Sues U.S Government With Taxpayers Bailout Money

By Ned Hepburn on March 27th, 2009

The company that gave its top executives $218,000,000 in bonuses alone is now using taxpayer money to fund a court battle. The U.S Government granted AIG a further $306,000,000 last year in taxpayer bailout money and is asking for it back after taxpayers got livid about AIG’s wild spending – which included, and this is all with taxpayer money:

$165,000 to redecorate ONE board members office. That’s right: office. That’s right. REDECORATE.
Million dollar employee getaways.
The afore-mentioned hundred and sixty-five MILLION dollars in bonuses to just the top executives.
Fully paid employee retreats costing the taxpayer thousands upon thousands for each employee.

And now the company plans to sue the United States for asking for its money back after the Finance Dept. declared that AIG wasn’t spending it’s money morally. Not to mention that, but the company has approximatley 7 different offshore companies it’s spreading its money to to escape the fact it now legally has to pay its money back; with offshore companies in the Dutch Antilles, the Cayman Islands.

The U.S Treasury Department effectively owns 80% of the company, after having poured around $200,000,000,000 (that’s two hundred BILLION in taxpayer dollars) into the company.

When will the madness end? This is ridiculous.