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This is what happens when you dance with the devil by the pale moonlight.

memyselfandi wrote:

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Pahrump Mania wrote:

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It's upsetting but a contract is a contract.

Exactly. A contract is a contract. Thus just about any lawyer can find a way to break it. The same way the contracts the autoworkers had with the Big 3 were broken as a condition of their companies getting bailout money.

The auto unions made concessions as a part of a pre-agreement before the money was passed out. It's hardly the same thing as a third party like a judge or other third party breaking the contracts. In the case of AIG apparently the government was stupid enough to lend the money in a haphazard fashion without crafting a proper legal document. Also since the bail-out money to AIG is a loan about all the government should really be able to do is to call the loan for immediate payback, assuming they want to risk the after effects. Because AIG did not go into bankruptcy there's not much the courts can do to interfere with existing contracts written by the company prior to the loan. It's probably tough bippies for the government.