The U.S. Supreme Court denied Maurice “Hank” Greenberg's appeal on his charge that the federal bailout of American International Group was illegal, CBS reports.
Starr International, which is run by Greenberg, argued in its appeal against the Federal Reserve Bank of New York that lower court rulings gave the government sweeping power to trump “ordinary rules of corporate and financial behavior” during an unusual emergency, according to the CBS story.
CBS says Greenberg and Starr have a related case pending before the U.S. Court of Federal Claims in Washington, which handles lawsuits seeking money from the government.
See the full story by Constantine Von Hoffman here.
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