Editorial ”U.S. as a loan shark” opines:
…“The AIG Board of Directors will meet today to decide whether the company should join a lawsuit against the federal government because of what some consider to be the onerous terms of the deal.
“Former AIG CEO Maurice Greenberg filed the lawsuit in 2011 alleging that the high interest rates — the federal government earned $22 billion on the deal — deprived shareholders of billions of dollars in investments. He accuses the federal government of violating the Fifth Amendment, which prohibits the taking of private property for ‘public use, without just compensation.’”
WATCHDOG: Two wags of the tail for this well researched, informative and wise editorial.
