A.I.G. - It gets even more unbelievable...

[kentuck]

AIG Sues US Government for Return of $306 Million in Tax Payments

http://www.nytimes.com/2009/03/20/business/20aig.html?_r=1

<snip>
While the American International Group comes under fire from Congress over executive bonuses, it is quietly fighting the federal government for the return of $306 million in tax payments, some related to deals that were conducted through offshore tax havens.

A.I.G. sued the government last month in a bid to force it to return the payments, which stemmed in large part from its use of aggressive tax deals, some involving entities controlled by the company’s financial products unit in the Cayman Islands, Ireland, the Dutch Antilles and other offshore havens.

A.I.G. is effectively suing its majority owner, the government, which has an 80 percent stake and has poured nearly $200 billion into the insurer in a bid to avert its collapse and avoid troubling the global financial markets. The company is in effect asking for even more money, in the form of tax refunds. The suit also suggests that A.I.G. is spending taxpayer money to pursue its case, something it is legally entitled to do. Its initial claim was denied by the Internal Revenue Service last year.

....more

[EmilyAnne]

1. It boggles the mind. n.t

[democracy1st]

2. wow I thought I was speechless but this takes the cake

[Liberal_in_LA]

15. agreed

[HughMoran]

3. Grassley was onto something

If these people don't jump, perhaps they should be pushed.

[democracy1st]

5. funny how the repubs have all of a sudden seen the light isn't it,they helped these weasels 100%

[HughMoran]

7. There is a certain amount of irony there

Sadly, these are politicians - they will be back to 100% pro-corporate greed by next week.

[aquart]

14. Off a pier? Over a cliff? Out a window?

Be specific.

[HughMoran]

21. I am pro-choice

:)

[amborin]

16. rethug though he is, Grassley is not too bad

he's kind of like the old fashioned rethug...from back in the days when rethug simply meant a fiscal conservative, nothing more

he was against the tax breaks for giant SUVs....anyone who incorporated and claimed the SUV for business purposes got huge tax write off.....like a free giant SUV.....

Grassley fought it

[rpannier]

4. This problem has a simple solution

Unless AIG withdraws its frivolous lawsuit the federal government withholds 10x whatever the lawsuit is no matter what the outcome in the courts are.

[Mr. Hyde]

6. Too big to fail? I'm willing to take my chances at this point.

Of course, I was never in favor of giving these assholes a dime under any circumstances.

[earthboundmisfit]

8. Holeeee shit

The gall of these motherfuckers is absolutely breathtaking.

[varkam]

9. INDICTMENTS! I WANT INDICTMENTS!

:argh:

[glinda]

10. Reading this made me want to vomit

[alcibiades_mystery]

11. This article made me literally laugh for two minutes

Especially the end:

A.I.G.’s lawyers in the case, at Sutherland Asbill & Brennan, referred calls to the company. Asked about the lawsuit, Mark Herr, an A.I.G. spokesman, said Thursday that “A.I.G. is taking this action to ensure that it is not required to pay more than its fair share of taxes.”

[Fire1sKid]

12. THE FUCKIN NERVE OF THESE ASSHOLES !!!!!

[upi402]

13. yeah, crack is really really a bad thing

especially for money elites, they do more damage

[brettdale]

17. how can they look in the mirror

in the morning?

[Festivito]

18. Spin-off their workers, fund it with CDO&S's, and let 'em sue.

Set up a new company: Banker's Asset Trust
Fund the new company with the paper these guys have created.
Let them have all the bonuses they want.

If they don't like it, let them explain how much more they deserve in front of a judge:
:rofl:
and jury:
:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:

[Marrah_G]

19. These people are just begging for a mob wielding pitchforks and torches ......

They have alot of fucking nerve.....greedy disgusting pigs

[mod mom]

27. These people are the MOB so why not some RICO charges?

[lunatica]

20. This is what bottomless greed looks like

Greed is a rotting, wasting disease, worse than cancer.

[elizfeelinggreat]

22. unbelievable

Thanks for this.

[Mari333]

23. using taxpayer money to pursue its case???

they think they are entitled!!!motherfuckers!

[Mari333]

24. k

[Fire1]

25. This is why the financial arm of AIG should be severed. n/t

[mod mom]

26. I.R.S. denied A.I.G.’s refund claims in 2008, saying that it had improperly calculated the credits

Can't we PLEASE have some INDICTMENTS

[Gin]

28. isn't the financial arm separate already? surely there is some action we can take to

sink this group and nullify all the swaps...if this continues...all the contracts will be paid in full...the banksters will get money on the front and back end...and we get screwed deeper and deeper.............surely there is some alternative to this continuous financial rape!