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IPFS News Link • Economy - Economics USA
The lawsuit does not argue that government help was not needed. It
contends that the onerous nature of the rescue — the taking of what
became a 92 percent stake in the company, the deal’s high interest rates
and the funneling of billions to the insurer’s Wall Street clients —
deprived shareholders of tens of billions of dollars and violated the
Fifth Amendment, which prohibits the taking of private property for
“public use, without just compensation.”
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