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Troubled Assets
David Boies, the attorney who represented Al Gore and the Democratic Party in Bush v. Gore in 2000, is representing the legendary Maurice ‘Hank’ Greenberg, former CEO of insurance giant AIG in a lawsuit against the United States – for bailing them out. That’s right, Boies told a federal judge last month that AIG stockholders were cheated by the federal government’s usurious terms, including an interest rate of 14% and a demand for 80% of the company. The terms cost shareholders as much as $40 billion dollars, Boies said, arguing that AIG investors deserve their money back. Former Treasury Secretary Hank Paulson, former New York Fed Bank President Timothy Geithner and former Fed Chairman Ben Bernanke were called to testify. Closing arguments are scheduled before Judge Thomas Wheeler at the US Court of Federal Claims in Washington, DC.
American International Group is an American multinational insurance corporation with more than 88 million customers in 130 countries. AIG companies employ over 64,000 people in 90 countries and was founded in China in 1919 by Cornelius Vander Starr. See if you can find the anomaly with the above when compared to below: