AIG Sues Its Sugar Daddy (Uncle Sam)

This doesn’t sound very grateful at all:

WSJ: In the midst of its negotiation with the federal government over revised terms of its bailout, American International Group Inc. sued the U.S. on Friday over a disputed $306 million in taxes, interest and penalties.

The suit steps up a battle with the Internal Revenue Service largely over AIG’s use of a controversial type of “tax arbitrage” transaction that authorities are challenging across the world. Read the whole thing >

Meanwhile, the company’s fresh bailout of another $30 billion is now official.

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