Updated from 11:00 a.m. EST

Update: AIG's board decided to not join the lawsuit against the U.S. government, The Wall Street Journal reports.

Earlier: AIG’s (AIG) board is meeting this morning to discuss a seemingly outrageous and offensive proposal: Whether the insurer should join a lawsuit against the Federal government brought by its former chairman Maurice “Hank” Greenberg.

Since the government bailed out AIG in a series of rescues that ultimately totaled $182 billion in 2008 and 2009, the idea of the firm suing its savior seems, at best, totally farcical.

Related: Should AIG Pursue Lawsuit Against the Government That Saved It?

AIG is “standing up for one of the most precious American rights of all: the right to sue someone who has just saved your life,” writes comedian Andy Borowitz. “Let’s say that you’re trapped in a burning building and a fireman pulls you out to safety. Once you’re out of the fire, though, you notice that the fireman carelessly ripped the lapel of your Armani

What are the biggest threats to global markets this year?

According to Eurasia Group's Top Risks for 2013, emerging markets pose the greatest investment risk this year.

“There’s a lot more downside risks in the emerging markets,” says David Gordon, head of research and director of global analysis for Eurasia Group. He tells The Daily Ticker that investors should not view emerging markets as one big money-making market but as a group of diverse economies that should be judged individually.

“For the first time in several years we’re looking at a lot more differentiation in the emerging markets," says Gordon.

Eurasia Group is bullish on Brazil, Colombia, Mexico, the Philippines, South Korea and Burma (Myanmar).

The outlook for the two biggest economies in Asia -- China and India -- are less certain. They will continue to grow but face political pressures, making it harder to invest there, says Gordon.

China’s leaders are tightening up on information domestically and promoting nationalism