I have seen a few people possibly sell off their positions because AIG is sueing the government. This is dumb because they can't read. KEYWORD in alot of those ARTICLES was MAY as in MAYBE as in NOT A DEFINITE YES. This is all speculation. Articles written by amateur writers. The fact of the matter is AIG has had a great quarter and will likely beat its estimates this quarter. Goldman Sachs know this and has reiterated its Price target of $43.00.
Anyways thank you shortsellers for making my call options cheaper. Ill be laughing all the way through the rebound ;-).
The government doesn't owe the share holders a damn thing. If they or the former CEO proceed with a lawsuit then the U. S. Justice Department should prosecute the former Former CEO and current executives for fraud and seek 100 yr prison terms. Of course if the gov't had done the right thing at the time, it would have let AIG go bankrupt. There is no such thing as TOO BIG TO FAIL!!!!
You probably think the GM bailout was done on the up and up by the government yet they screwed the bond holders and bought the union votes by giving the uaw a sweet deal and for that obama should go to jail. Idiots abound!! Suing the government is like suing the people #$%$ are you an idiot or what.
I am sure AIG was seriuosly considering the law suite, which viewed from pure commercial point of view has merits. They would not attempt to do so if the wining chance is not so overwhelming.
Whether the political pressure will force AIG to withdraw remains to be seen.
For now, it si a gambling at your side. If AIG sues, it will likely get 10B back from the government but burry any future chance to be rescued by anyone.
The lawsuit was already filed by the previous CEO and his current company. The previous CEO has asked the current AIG board to join his lawsuit on behalf of the AIG shareholders. AIG board has a duty to its shareholders to consider that.