Jon Stewart on Wednesday took former AIG CEO Hank Greenburg to task for suing the government over the terms of the insurance giant’s bailout in 2008. AIG’s directors considered joining the suit, which alleges the bailout cost shareholders billions of dollars, but decided against it on Wednesday.
“So the guy who used to run insurance giant AIG is mad, because when his company was hit by a calamity they clearly weren’t prepared for, the group that stepped in to provide funds for them that they desperately needed assessed the company and thought, well, they’ve engaged in a history of risky behaviors and had a pre existing condition called ‘the money’s all gone-orrhea,’ and so they charged them a higher rate for the money that they needed, almost to the point of taking of the company, profiting from their misfortune, if you will,” Stewart said. “Did that upset you, AIG? Because it’s also known as your business model.”
Watch the video:
|The Daily Show with Jon Stewart||Mon - Thurs 11p / 10c|
|Ingrateful Basterds - AIG|
David Taintor is TPM’s News Editor. He contributes to TPM’s Livewire coverage, among other areas. David is from Chanhassen, Minnesota, where, yes, it gets very cold. Reach him at taintor [at] talkingpointsmemo.com