AIG weighs suing U.S. over terms of its bailout

[Delia]

AIG weighs suing U.S. over terms of its bailout

NEW YORK (AP) — Insurance giant AIG is considering whether the company should join a lawsuit against the government, which spent $182 billion to save it from collapse.

American International Group said its board of directors will decide whether to take part in a shareholder lawsuit against the U.S. over the government's $182 billion bailout of the New York-based insurer.

The Treasury Department announced last month that it sold all of its remaining shares of AIG, ending up with $22.7 billion more than it funneled to the company during the height of the financial crisis.

If AIG decides to join the complaint, which seeks $25 billion in damages, it would pit the company against the government that in 2008 kept it from buckling under the weight huge losses on mortgage-backed securities and other toxic assets.

AIG said its directors should have a decision by the end of the month.

Well. This IS America, land of the lawsuit. Still, it seems rather 'bite the hand that fed you'-like.