NY Fed to FBN: "No Merit" to Former AIG CEO Maurice Greenberg's Potential Lawsuit
Napolitano argued that the financial giant could hold their own in such a case, saying that the federal government's differential treatment between the three entities who asked for bailouts - Goldman Sachs, Morgan Stanley, and
AIG - would be grounds enough.
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"If you're going to bail them out, you have to treat them in an equal way," he said, something that the government did not do. "This violates the principle of equal protection, which the Fifth Amendment requires."
Hear the judge's full argument: