“Our Constitution is a sacred document,” the former chief executive officer of AIG said Thursday in an interview. “Without the Constitution, what are we? What’s the future of the country if the government can overstep its bounds?”
“The one who overstepped their bounds got rewarded,” Greenberg said of the government. “The shareholders, who were the victim of that, did not.” Wheeler ruled that Greenberg shouldn’t get damages because AIG would have probably filed for bankruptcy if not for the rescue, leaving shareholders worse off. “To suggest that you know what a bankruptcy court would do, and what the outcome would be, is a little puzzling,” Greenberg said. “How do you know now what the bankruptcy court would do? AIG didn’t have a solvency problem. They had about $80 billion of net worth at the time. That’s a lot of net worth.”
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