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The Deal: "AIG Lawsuit Puts Spotlight on 2008 Financial Crisis Response"

10/01/2014 News Release Imgage

The Deal: "AIG Lawsuit Puts Spotlight on 2008 Financial Crisis Response"

. . . John James, a business professor at Pace University, suggested that the government may soon try to settle the case because otherwise it could become quite embarrassing for the Treasury Department, the Federal Reserve and individual high profile regulators. He added that Greenberg wouldn't have been able to mobilize the funds for the lawsuit unless he was able to convince other investors that he was correct or at least that it was an "incredible cause."

James argued that the trial will expose questions of governance and transparency, adding that even if AIG didn't have a choice about whether or not to accept the government's offer, that didn't mean the offer was fair and equitable. "I think it is worthy of a close examination," James said.

Read more: http://www.thestreet.com/story/12896845/1/aig-lawsuit-puts-spotlight-on-2008-financial-crisis-response.html