ANOTHER CIVIL SUIT AGAINST SOME BANKSTERS

AIG is beginning to go after some of the crooks who bundled crap and lied to AIG about it. 

A.I.G. to Sue 2 Firms to Recover Some Losses
By LOUISE STORY
Published: April 27, 2011
NY Times

The initial suit, against ICP Asset Management and Moore Capital, will claim that A.I.G. suffered losses insuring mortgage securities created by ICP. The suit says ICP manipulated those securities in a way that benefited itself and Moore Capital, which is not accused of fraud, but harmed A.I.G.

I missed this at the time: when AIG (mostly the banksters it insured) was bailed out, it gave up some rights:

As part of the bailout, A.I.G. waived its right to sue banks over most of the mortgage securities that it had insured through complex financial contracts known as derivatives. But the company did not give up its right to sue the managers of those deals — like ICP — nor did it cede rights to sue over $40 billion of mortgage bonds that it had purchased outright from banks. These bonds were responsible for a substantial portion of the company’s losses and were held in a unit that handled securities lending, separate from the derivatives unit.