A.I.G. Sues U.S. for Return of $306 Million in Tax Payments

[gristy]

Source: NY Times

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.

Read more: http://www.nytimes.com/2009/03/20/business/20aig.html?hp

[Journeyman]

1. The very definition of "chutzpah". . .

[dipsydoodle]

25. Is it reasonably safe to assume

that's Yiddish for cheeky fuckers ?

[NRaleighLiberal]

2. So I suppose the acronym means "Assholes, In General"?

Or, "Absolutely, Incredibly Greedy??

[rpannier]

3. The world-wide corporate culture is mind-boggling

There are few words to describe this action.

The government ought to inform AIG that it will withhold 10x what AIG is suing for if they don't withdraw their suit

[valerief]

4. AIG paid taxes??? I never would have guessed it! nt

[tomm2thumbs]

12. hahahah good one

[Double T]

5. We have finally become the Netherworld where insanity is standard.

Stop the planet 'cause I want to get off!

[Frustratedlady]

8. You are the second person I've seen make that comment today.

The first was after the Merril Lynch announcement.

I'm interested to know who the bailout companies are who didn't PAY taxes.

[Bolo Boffin]

6. I saw this story and laughed and laughed

The ability of these financial wizards to just not get it is some of the highest comedy around.

[alcibiades_mystery]

15. Me too!

I was laughing uncontrollably for about two straight minutes. It literally made me laugh out loud.

[fortyfeetunder]

7. simply pathetic

don't they know they've been pwned?

[Gin]

10. how bizzarre...they paid taxes with our money...then sue us with our money

beam me up Scotty!

[1monster]

9. It is time for the major stock holder in AIG to bring in independent auditors, find out where

the problems are (and the bodies hidden), come up with a plan to fix the problems and or cut the losses AND FIRE ALL THE INCOMPETENTS, THEIVES, AND GREEDY IDIOTS who caused the problems in the first place.

Next, the Legislature needs to close the corporate tax loop holes. If I make income in other countries, that income is still subject to US income tax. Why should corporations, who have managed to get themselves the status of individuals, get a better deal than the rest of us individual tax payers?

[tomm2thumbs]

11. Audit Everyone At AIG for the Last 5 Years and Audit Them Deep

They are using so many loopholes in their work, do you think they played any less games with their personal taxes.

I bet they will RUE the day they play these games with American Tax money

[47of74]

19. Deep, hard, and long...

Then the Federal Government should bust up that criminal gang, grind AIG into dust, and ensure that the next 50 generations are made aware of the evil that was AIG.

[Norrin Radd]

13. For fuck's sake.

[alcibiades_mystery]

14. In other news, Rod Blagovitch chosen as CEO of AIG

Cuz this is some Blago-style shit going on right here.

[upi402]

16. Crackhead Executive Officer

See kids, meth really IS silly.

MSNBC will cover this like a blanket if warranted. Should be as good as it is bad.

[mr_smith007]

17. hehe holy hell...

The times MUST have sourced this from the Onion.

[christx30]

18. Except for the "NY Times"

up there, I would have thought that this is a slightly unfunny article from The Onion.
These guys are so out of touch it's hilarious.

[rollingrock]

20. I don't see why this kind of action is so surprising

This pushover government has pretty much caved into every single one of Wall Street's demands so far, so why shouldn't Wall Street expect them not to cave this time? Heck, the bailout bill was virtually written by these AIG thugs themselves. Treating a criminal with kid gloves doesn't exactly deter them from behaving like a criminal. It's the kind of behavior you should expect from a thug.

[No Elephants]

24. The prior "pushover government" really stood up to Wall Street? This govt has done better.

[rollingrock]

26. Who said they did?

I see no change in the handling of this economic crisis from the previous administration. Just keep shoveling more and more piles of taxpayer cash into Wall Street's pockets, no questions asked.

Yeah, that'll show 'em!

[kaygore]

21. I heard that many getting the bonuses live in the uK

Are they even taxed here in the US? Was this just showboating?

[Demeter]

22. K&R for surpassing strange

maybe I'll wake up and find this was all just a bad dream....

[harmonicon]

23. ugh.... and we shouldn't have let these fuckers fail because?

If AIG failed, I would poor now, be poor in the future, and have no prospects for a good job. Oh, hey! That's the position that I'm in now. Fuck these bastards to hell.

[DebbieCDC]

27. We have officially entered The Twilight Zone

[iandhr]

28. A.I.G. Sues U.S. for Return of $306 Million in Tax Payments

Source: NY TIMES

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. 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.

Read more: http://www.nytimes.com/2009/03/20/business/20aig.html?ref=politics

---

Can you believe these people

[liberal N proud]

29. That takes some nerve

[fascisthunter]

30. oh goodey... if ya thought Americans disliked you before...

they'll really hate ya now.... keep up the good work fascists.

[TheCoxwain]

31. They need this to be used on them

It is a TESTICLE CRUSHER

[Deja Q]

33. They have testicles?! No way!!

[TheCoxwain]

34. I think they have HUGH ones .. otherwise they wouldnt be suing its majority owner

and they need be ... How do I put it? .. cut down to size...

[primavera]

32. Since we're the majority owner...

... why can't we fire these greedy sons of bitches?

[stlsaxman]

35. "Of course you realize- this means war!"

http://www.youtube.com/watch?v=QBml1XZDg3w

FUCK 'EM... SHUT THEM DOWN!

[rollingrock]

36. They have been emboldened by Geithner's kid gloves treatment

Wall Street has become highly accustomed to the government handing them everything they want on a silver platter, no questions asked. Spoiled rotten, if you will. No matter how preposterous and outrageous their demands may be. So why should they stop now?

[Naipes]

37. This is ridiculous!

Someone should hold those bastards accountable.

I, for one, am sick of these fucks.

[alfredo]

38. Chutzpah