They still don’t get it

Posted: March 20, 2009 in Uncategorized

Another day, another outrage in the long string of abuses from AIG.  As reported in the New York Times, the failed finance company currently on the dock for paying its least competent division $165 Million in bonuses, is now suing the federal government for return of $306 Million in taxes paid.  No, seriously.  Read on:

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.

Un-fucking-believable.  These people have been the recipients of billions of our taxpayer dollars, and they have the nerve to do this?  They’re lucky to be alive, frankly, after what they did to their company, the people whose money they destroyed and lives they ruined, and the country. In case you didn’t read the entire article, here’s the punchline:

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.”

Really?  More than their “fair share”?  Here’s a solution – how about we take back every dollar we gave them, and see how far they get after that?  Honestly, the hubris of these people is astounding.  Their arrogance and greed knows no bounds.  What’s it going to take for them to finally learn?  This latest outrage only shows they have no intention of changing their ways.

  1. NG Lynd says:

    I can hardly believe what I am reading, but that happens alot in my life. I cannot believe they have the right to use taxpayer money to pursue the case. Curiously, this is the first time I am hearing of this.

  2. Afrit007 says:

    It gets better. It turns out nearly half the bonuses didn’t even go to Americans. So AIG lost billions of dollars, went begging to Congress for gobs of cash, and turned around and sent a pile of money overseas to a bunch of foreigners who didn’t deserve it.

    I’m not trying to be xenophobic here, but shouldn’t OUR money stay in AMERICAN hands?

  3. NG Lynd says:

    Hey Afrit007,

    Of course, you are right. It is not xenophobic to believe this at all. I think the scandal with AIG has really whipped up populist anger on the left, and I see some faux-liberals don’t like that one bit. Recently, I came across a faux who said that the populist anger lodged at AIG is “anti-bank”. Huh? Since when is trust-busting too radical for liberals to handle? We want the banks broken up, not eliminated.

    BTW, any idea if we got all of those bonuses back yet? The people own most of AIG, so…Oh yeah, they have contracts. (Like you said in a recent post–so do the union members, but hey, what is a little detail like that?)