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April 23, 2015

A.I.G. Bailout Lawsuit Trial Ends as It Began, With Most Issues in Dispute

WASHINGTON — The unusual trial of Maurice R. Greenberg’s $40 billion lawsuit against the government ended on Wednesday in much the same way it started, with both sides presenting starkly different narratives about the 2008 taxpayer bailout of the American International Group.

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“Greenberg got lucky with a judge who decided he wanted to listen to a claim that should have been laughed out of court,” said Dennis M. Kelleher, a former partner at Skadden Arps who runs the financial advocacy group Better Markets. “There’s a reason an appeals court uses three judges and not one. Because one person can always decide whatever he wants.”

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Read the full New York Times article by Aaron Kessler here.

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