Comment by WorkerBee28474
13 hours ago
Don't forget that the US government took roughly 80% of AIG in a move that was later declared illegal and made a roughly $15 billion profit.
13 hours ago
Don't forget that the US government took roughly 80% of AIG in a move that was later declared illegal and made a roughly $15 billion profit.
> in a move that was later declared illegal
To be fair, a lower court ruled it “illegal exaction” but awarded $0 in damages as the illegal exaction prevented bankruptcy which would have zeroed out the investment anyways. Then the Federal Court of Appeals tossed that ruling as the plaintiffs did not have standing to pursue action.
There is no current ruling that the acquisition was illegal.