AIG may join suit vs. N.Y. Fed

Investor's Business Daily

American International Group (AIG), parent of various insurance companies and recipient of a $182 bil U.S. gov't bailout in '08, said its board would meet Wed. to consider joining a lawsuit by ex-CEO — and current major shareholder — Hank Greenberg. Greenberg's $25 bil suit claims the New York Fed set unfair bailout terms and charged an unreasonable interest rate on the original loan. The N.Y. Fed had no comment. Many lawmakers denounced AIG's possible action as arrogant ingratitude. AIG shares fell 0.8%.

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