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It could be an awkward reunion. Three top former government leaders who devised the 2008 financial bailouts are set to testify this week in a lawsuit over the government’s rescue of the insurance giant AIG.
The AIG board of directors will not follow or endorse a lawsuit against the U.S. government over financial assistance received during the 2008 financial crisis. The lawsuit is being brought by former AIG CEO Maurice Greenberg who claims that the U.S. government’s bailout was against shareholder interests.
The United States Treasury is on track to recover most of the $69 billion in taxpayer funds it used to bail out insurance giant AIG in 2008 at the height of the financial crisis, according to a 2011 Government Accountability Office report.
