Ex-AIG CEO Suing U.S. for $25 Billion


A new lawsuit filed by former AIG CEO Maurice “Hank” Greenberg’s Starr International (a.k.a. AIG 2) alleges that when the U.S. government bailed out AIG, it failed to compensate existing shareholders to the tune of $25 billion, violating the Fifth Amendment. The government, the suit says, “is not empowered to trample shareholder and property rights even in the midst of a financial emergency.” The U.S. stake in AIG, once about 80 percent, is now 77 percent.