Federal Reserve and U-S Attorney General: Launch a lawsuit against Maurice "Hank" Greenberg!
This petition had 246 supporters
American International Group Inc, headed by then CEO Maurice "Hank" Greenberg, was rescued by the U.S. government (American Taxpayers) in 2008 with a bailout that ultimately totaled $182 billion dollars.
Greenberg, whose Starr International owned 12 percent of AIG before its near-collapse, has accused the New York Fed (in his own legal action) of using the rescue to bail out Wall Street banks at the expense of shareholders, and of being a "loan shark" by charging "exorbitant" interest on the initial loan. That loan interest rate was 14.5 percent (according to Reuters News). The rate is far below the interest charged to common citizens whose credit rating is deemed "insufficient, or " too low" (closer to 20%) by large banks and lenders .
AIG has never been charged with fraud and malfeasance for it's predatory practices that led to the near collapse of the American economy. Mr. Greenberg continues to bring frivolous lawsuits against the U-S, costing taxpayers more money to defend these ridiculous actions.
WE THE TAXPAYERS demand that the Federal Reserve and The U-S Government take action against Maurice Greenberg, and the current board of AIG, to now pay a higher (more acceptable interest rate of 20%) given the company's failed credit standing, and fraudulent criminal activities that led to the need for a massive bailout.
As well, WE DEMAND that Greenberg and his top level executives face criminal fraud charges for their involvement in the practices that led to the downfall of the insurance company and the near collapse of the entire economy in 2008.
WE also now call for PUNITIVE DAMAGES to be paid to ALL AMERICAN CITIZENS WHO LOST THEIR HOMES AND JOBS as a result of the irresponsible, and negligent, business practices employed by AIG which led to near economic calamity.
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