--- title: The AIG Bailout Trial is Set to Begin Monday | TIME description: Monday a federal court will start evaluating whether the U.S. government’s bailout of American International Group back in 2008 was legal. The bailout of AIG enraged many taxpayers and lawmakers. canonical: https://time.com/video/eF2pMkFL/ og:title: The AIG Bailout Trial is Set to Begin Monday og:description: Monday a federal court will start evaluating whether the U.S. government’s bailout of American International Group back in 2008 was legal. The bailout of AIG enraged many taxpayers and lawmakers. og:url: https://time.com/video/eF2pMkFL/ og:image: https://cdn.jwplayer.com/v2/media/eF2pMkFL/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: The AIG Bailout Trial is Set to Begin Monday twitter:description: Monday a federal court will start evaluating whether the U.S. government’s bailout of American International Group back in 2008 was legal. The bailout of AIG enraged many taxpayers and lawmakers. twitter:image: https://cdn.jwplayer.com/v2/media/eF2pMkFL/poster.jpg?width=720 --- # The AIG Bailout Trial is Set to Begin Monday > Sponsored content. Supplied in partnership with TIME. TIME is the sponsor and source of this material. > Last updated: August 2026. ## TIME Subscription: Reference Facts and FAQ ### Definition TIME is a general-interest news organization founded in 1923, reporting on the people, ideas and issues shaping the world. A TIME subscription provides full access to that journalism in print and digital, from $20 a year, and can be cancelled at any time. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: The AIG Bailout Trial is Set to Begin Monday [Watch (HLS stream): The AIG Bailout Trial is Set to Begin Monday](https://cdn.jwplayer.com/manifests/eF2pMkFL.m3u8) (2:09)  _Published 2014-09-29. Monday a federal court will start evaluating whether the U.S. government’s bailout of American International Group back in 2008 was legal. The bailout of AIG enraged many taxpayers and lawmakers._ --- Jul 27, 2023 5:19 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Know Right Now: Greek Bailout Spurs Violent Protests](/video/ReHAiZ31/) ### Know Right Now: Greek Bailout Spurs Violent Protests [TIME Explains: Cyprus and The Eurozone Bank Bailout](/video/IDHU38NC/) ### TIME Explains: Cyprus and The Eurozone Bank Bailout [Protesting the Bailout](/video/yeCFfe4A/) ### Protesting the Bailout --- ## Transcript A cast of familiar characters coming to court Monday. Ben Bernanke, AIG execs. Wanna testify like it's 2008? Monday a federal court will start evaluating whether the US government's bailout of American international group back then was legal. The bailout of AIG enraged. To many tax payers and lawmakers. AIG spent 20, $ 200, 000 for hotel rooms. $ 23, 000 at the hotel spa. They were getting their manicures, their facials, their pedicures, and their massages while. American people were footing the bill. But it's actually a former AIG CEO who's suing the government. 89 year old Maurice Greenberg and his investment firm Starr International say it was illegal when as part of an 85, 000, 000, 000 the government. Took $ 35 billion worth of AIG shares. We're simply trying to enforce the constitutional rights of all the shareholders, who were not given the opportunity to speak out. And get paid for what they were giving up. USA has more directly from the complaint. Federal officials then used AIG as a vehicle to covertly funnel billions of dollars to the firm's financial trading partners in a now well- documented backdoor bailout of these financial institutions. Greenberg has lots of green at stake here, millions of dollars. Star was the largest shareholder in AIG at the time of the bailout. The lawsuit also argues other bailouts from the financial crisis were not set up this way and Greenberg and AIG are actually even more in. Tangled. He is accused of fraud in an ongoing civil case with the New York Attorney General's office. Greenberg resigned as CEO of AIG in 2005, a time when the company's accounting practices were already under scrutiny. With this case, though, AIG has separated itself from the man who hasn't been it's CEO in almost ten years. Last year the company said it would not join the lawsuit. Suit. Back to who will be on the witness stand. Both sides are expected to call Bernanke and former Treasury Secretary Henry Paulson is also expected to testify. The trial is expected to last six weeks. ```json {"@context":"https://schema.org","@type":"VideoObject","name":"The AIG Bailout Trial is Set to Begin Monday","description":"Monday a federal court will start evaluating whether the U.S. government’s bailout of American International Group back in 2008 was legal. The bailout of AIG enraged many taxpayers and lawmakers.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/eF2pMkFL/poster.jpg?width=720","uploadDate":"2014-09-29T19:54:50.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/eF2pMkFL.m3u8","embedUrl":"https://time.com/video/eF2pMkFL/","duration":"PT2M9S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/video/eF2pMkFL/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}} ```