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October 24, 2014

The Real Bailout Victims

Editorial Board, NY Times

The trial in the suit by Maurice Greenberg against the United States has segued this month from star-witness testimony to routine evidence gathering. As the case proceeds, the farce at its center becomes ever more clear.

Mr. Greenberg, a former chief executive of the American International Group, is suing for $40 billion, asserting that the government treated him and other A.I.G shareholders too harshly in 2008, when it bailed out the failing insurer. By forcing everyone to focus on whether he was victimized, Mr. Greenberg has obscured an essential part of the story: the undisputed and largely uncompensated victim of how the bailouts were executed was and remains the American public.

Read the entire editorial here:

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