Reps. Gutierrez, Capuano and Welch to AIG: ‘Don’t’ Even Think About It’

Washington, DC–(ENEWSPF)–January 9, 2013.  News that American International Group (AIG) is considering suing the U.S. government over the taxpayer-funded rescue of the company in 2008 is drawing a clear response from Rep. Luis V. Gutierrez (D-IL) who joined House colleagues Reps. Peter Welch (D-VT) and Michael Capuano (D-MA) in saying: “Don’t even think about it.”

In a letter to AIG Chairman Robert S. Miller, Reps. Welch, Gutierrez and Capuano say: “AIG became the poster company for Wall Street greed, fiscal mismanagement, and executive bonuses – the taxpayer and economy be damned. Now, AIG apparently seeks to become the poster company for corporate ingratitude and chutzpah.”

“Taxpayers are still furious that they rescued a company whose own conduct brought it down. Don’t rub salt in the wounds with yet another reckless decision that is on par with the reckless decisions that led to the bailout in the first place.”

News reports indicate that AIG is actively considering suing the U.S. government over the $182 billion dollar rescue of the bank at the height of the financial crisis, arguing that the bailout deprived shareholders of tens of billions of dollars in profits.

The full letter is copied below:

Mr. Robert S. Miller
Board Chairman
American International Group, Inc.
180 Maiden Lane
New York, NY 10038

Dear Mr. Miller:

According to The New York Times, AIG is actively considering suing the U.S. government for monetary damages after American taxpayers rescued your company from its reckless conduct with a $182 billion bailout.

Don’t do it.

Don’t even think about it.

AIG became the poster company for Wall Street greed, fiscal mismanagement, and executive bonuses – the taxpayer and economy be damned.

Now, AIG apparently seeks to become the poster company for corporate ingratitude and chutzpah.

Taxpayers are still furious that they rescued a company whose own conduct brought it down. Don’t rub salt in the wounds with yet another reckless decision that is on par with the reckless decisions that led to the bailout in the first place.

Sincerely,

PETER WELCH
Member of Congress

MICHAEL CAPUANO
Member of Congress

LUIS V. GUTIERREZ
Member of Congress

Source: http://gutierrez.house.gov

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