27.11.2014 - Was a Chinese sovereign wealth fund willing to immediately write a check?
As the 37-day bench trial regarding the U.S. government’s forced bailout of American International Group Inc wraps up, a big question is: did the government disregard a valid offer from a Chinese sovereign wealth fund that could have bailed out AIG? Maurice R. “Hank” Greenberg, AIG’s legendary CEO and largest shareholder, brought the lawsuit against the government. The suit essentially makes two claims: The large Wall Street banks essentially received favorable bailout terms while AIG was harshly punished – an argument that is hard to dispute. The second charge, and the one that could play into the trial more significantly, is that AIG had a valid offer from the China Investment Corp. (CIC), sovereign wealth fund, to purchase the firm and the government dismissed that offer out of hand...........................................Full Article: Source