Must-see morning clip: Jon Stewart ridicules ex-AIG head for being a cry baby

Hank Greenberg is suing the government because he's unhappy with the bailout terms that saved AIG


Prachi Gupta
October 10, 2014 5:11PM (UTC)

Because there aren't enough angering events in the world, Jon Stewart would like to call your attention to former AIG Chairman and CEO Hank Greenberg, who is suing the government because he's unhappy with the terms of the generous $184.6 billion bail-out AIG received during the financial crisis. This lawsuit is analogous to, as Stewart put it, receiving CPR and complaining about your savior's bad breath.

In exchange for the bailout, the government gained a 92 percent stake in the flailing company -- which Greenberg argues is too much (despite its valuation of only $15 billion, as Stewart discovers). Essentially, "Your legal argument is, 'Wahhh! It's not fair!" said the comedian, who then attempted to explain how finance works: "Your loan terms were worse than the bank's because you were insolvent. You should know how that works -- you're an insurance company."

Advertisement:

To make his point, Stewart then performed a one-man show about how normal people apply for a loan.


Prachi Gupta

Prachi Gupta is an Assistant News Editor for Salon, focusing on pop culture. Follow her on Twitter at @prachigu or email her at pgupta@salon.com.

MORE FROM Prachi GuptaFOLLOW prachiguLIKE Prachi Gupta

Related Topics ------------------------------------------

Aig Bailout Financial Crisis Hank Greenberg Jon Stewart Must See Morning Clip Video



BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •