The Audacity of AIG

[BoSoxGal]

Suing the government because they were paid $184 billion for 92% of a company whose market value was $15 billion????

Alleging they were extorted because they didn't get an interest rate as favorable as the banks in the TARP bailout???

Over 3 million Americans now chronically unemployed, millions of homes foreclosed on, families and lives destroyed . . . and they have the fucking audacity to SUE THE FUCKING GOVERNMENT WHO BAILED THEM OUT AFTER THEY ENGAGED IN OUTRAGEOUSLY RISKY BUSINESS PRACTICES??????

Fucking PSYCHOPATHS!!!!





PLEASE, tell me Jon Stewart is making this shit up!

[Long Run]

I thought you got NPR in Montana. The lawsuit is not AIG suing the government; it is the former chairman of the board and major shareholder. AIG refused his request to file the suit. So, Maurice Greenberg (the former chairman) is the audacious one. Kind of an odd case since there are some big financial types who are Greenberg's friends who are helping bankroll the case and get a cut of any damages. Let's hope this is a bad investment on their part.

[Crackpot]

This is the sort of thing if it goes through will bring us closer to if not outright cause a revolution.

[wesw]

I think the things going on in Missouri are more of a cause for worry as far as revolution is concerned

[rubato]

A lawyer has taken their case. David Boies.

So its your own fucking tribe who are fucking us all. Thank, You.


yrs,
rubato

[BoSoxGal]

Yes, because those of us who toil on the brink of financial insecurity, enslaved to massive student loan debt while dedicating our lives to representing regular folk are somehow responsible for the leeches in our profession???

Then you are responsible for the actions of the chemists who facilitated the gassing of millions of Jews and the creation of all chemical weapons. Thank, You!

[Guinevere]

A lawyer has taken their case. David Boies.

So its your own fucking tribe who are fucking us all. Thank, You.


yrs,
rubato

One lawyer. One case. If he thinks be can bring a good faith claim, then more power to him. I'd trust his view of the law, a billion times over before I'd trust yours.

And anyway, David Boies is hardly representative of "the tribe" of lawyers (btw, its a brother and sisterhood, not really a tribe, but that's a different issue). Boies is a big name guy who tries big name cases for big bucks. He is a lawyer who gets a fair amount of press, but is in a minuscule percentile, when it comes to comparison with the average lawyer for salary and publicity.

A law degree is worth, in added annual salary, about $53,300 a year, and that the average pretax value of a law degree over a lifetime is about $1 million. That's a decent return on investment, but far far below the numbers that David Boies is pulling in (the average annual profits per equity partner at his firm are $2.5 MM, I'd bet he takes triple that number, if not more).

Really, the rest of us lawyers are toiling along, making a difference in everyday life by doing things like keeping the wrongly accused out of jail, prosecuting offenders, keeping polluters from ruining the waters of the US, enforcing building codes and many other local laws, drafting wills and estate plans, advising on medicare and medicaid, helping complete all sorts of real estate transactions, bargaining with or on behalf of labor unions, suing big pharma for their bad faith claims, drafting contracts or resolving contract disputes, advising local, state and federal governments on every possible issue you could think of, and more than I have time to list today. But you're a smart man, you know the point, even if you refuse to acknowledge it.