U.S bailout of AIG in 2008 was 'punitive,' ex-CEO's lawyer says

April 22, 2015 7:58 PM

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U.S bailout of AIG in 2008 was 'punitive,' ex-CEO's lawyer says

WASHINGTON (Reuters) - The U.S. government was "punitive" in its bailout of American International Group Inc in 2008, a lawyer for the company's former chief executive argued during closing arguments of a trial that may impact how much flexibility regulators will have when they respond to future financial crises.

Former AIG Chief Executive Maurice "Hank" Greenberg, who was in court on Wednesday for the first time during the trial, is seeking to convince a federal judge that the U.S. government's rescue terms for the New York-based insurance giant to save it from bankruptcy cheated its shareholders.

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