When the U.S. federal government initially invested in AIG with $85 billion it didn’t require any seats on the Board of Directors. The AIG members of the Board of Directors retained their seats as members of the board after the bailout. In effect this means that although the government owns 79.9% of AIG the U.S. federal government has no input as to how the company is ran. The original investment was made on September 16, 2008. There was a second bailout October 8, 2008 for another $37.5 billion. The third bail out occurred November 10, 2008 for another $29.5 billion raising the total bailout to date of $150 billion.
If you give a mouse a cookie.
He’s going to ask for a glass of milk.
When you give him the milk, he’ll probably ask you for a straw.
When he’s finished, he’ll ask for a napkin.
The childrens story, "If you give a mouse a cookie," goes on and on.
Maybe the U.S. federal government should demand some resignations on the Board of Directors. The democrat Rep. Elijah E. Cummings called yesterday for the resignation of American International Group's top executive after news reports of another resort hotel event involving employees from the giant insurance firm. Notice he only asked for the resignation because of another resort hotel event and not the poor management of the Board of Directors and their incessant need for more.
If you give a politician reelection.