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Taxpayers Fund AIG Lawsuit Against US

By   Follow Me on Twitter     Message Mike Kuykendall       (Page 1 of 1 pages)     Permalink    (# of views)   9 comments

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opednews.com Headlined to H2 3/20/09

Author 7299
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Unbelievably, AIG is suing the federal government using taxpayer dollars;
While the American International Group comes under fire from Congress over executive bonuses, it is quietly fighting the federal government for the return of $306 million in tax payments, some related to deals that were conducted through offshore tax havens.

A.I.G. sued the government last month in a bid to force it to return the payments, which stemmed in large part from its use of aggressive tax deals, some involving entities controlled by the company's financial products unit in the Cayman Islands, Ireland, the Dutch Antilles and other offshore havens.

A.I.G. is effectively suing its majority owner, the government, which has an 80 percent stake and has poured nearly $200 billion into the insurer in a bid to avert its collapse and avoid troubling the global financial markets. The company is in effect asking for even more money, in the form of tax refunds. The suit also suggests that A.I.G. is spending taxpayer money to pursue its case, something it is legally entitled to do. Its initial claim was denied by the Internal Revenue Service last year.
Expect another eruption of universal indignation when this hits the MSM.

 

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Mike Kuykendall is a progressive, patriotic veteran of the U.S. Air Force, fighting hard to save our democracy.

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