Rep. Courtney blasts AIG lawsuit as 'garbage'

Rep. Joe Courtney (D-Conn.) on Tuesday blasted the American International Group over reports that AIG is considering joining a shareholder lawsuit against the administration over the 2008 federal bailout.

AIG ads thanking America ring hollow on news considering suing USA bc of bailout conditions. Choice was TARP or bankruptcy. Suit is garbage

— Rep. Joe Courtney (@RepJoeCourtney) January 8, 2013

The insurer would join a $25 billion shareholder lawsuit filed by Maurice R. Greenberg, AIG's former chief executive, claiming that the government took over the company without "due process or just compensation."

AIG was the recipient of the largest federal bailout ever, at $182 billion, which the company paid back. As Courtney pointed out in his tweet, the company is currently running a "Thank you, America" ad campaign.

A New York judge used a similar argument to Courtney's in dismissing the suit last year, but the case is still pending in the U.S. Court of Federal Claims, according to Reuters.

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