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Bailout Backlash: Insurance Company AIG Considering Lawsuit Against Government

Lawsuit claims company shareholders cheated by $182 million bailout with higher interest rates.
2:30 | 01/08/13

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Transcript for Bailout Backlash: Insurance Company AIG Considering Lawsuit Against Government
And now, what's being called a slap in the face for american tax payers. Is it really possible that the insurance goliath aig may sue the u.S. Government, less than five years after taxpayers saved the insurance company from bankruptcy? Abc's david muir is here with the story. Reporter: This is really something, diane. In fact, as one economist put it today, if aig sues the government now after that giant taxpayer bailout, it would be the equivalent of a patient suing their doctor for saving their life. Insurance giant aig, bailed out by the american taxpayer, just days ago launching this brand new marketing campaign, with three simple words. Thank you america. Thank you america. Thank you america. Reporter: But now, after thanking america, it turns out aig might sue it. How do you say thank you america and then turn around and consider suing america? That's the fascinating thing. They just launched this ad campaign, all about tnking americans for their help, for the bailout and now they are considering suing. Reporter: It was a little more than four years ago, the worst economic crash since the depression and american taxpayers came to the rescue. 182 billion for iag. The insurance giant made bets on mortgage securities -- bets that went terribly wrong. Fed chairman ben bernanke later calling the bets unconscionable. Fast forward and now the company just finished paying back american taxpayers. And in those new ads, proud of it. We repaidry dollar america lent us. Everything, plus a profit of more than $22 billion for the american people. Reporter: But as those ads play on tv, aig is now deciding whether to sue the federal government. The claim? That the terms of the bailout, that taxpayer rescue, actually hurt shareholders. In part, arguing the interest charge on that government rescue money was too high. Tonight, the new york fed telling us, "there's no merit to this suit," saying, "back then, aig's board of directors had an alternative choice and that choice was bankruptcy." Had there not be taxpayer help, had there not been a bailout, what would the sharehold earls have now anyway? Possibly zero. Reporter: A $25 billion lawsuit has been filed by aig's former ceo hank greenberg. Aig issued a statement saying under law, they must consider the suit. It is their obligation, in their worlds, to determine what's in the best interest of the company. I did ask to interview some of those aig employees, saying thank you america, diane, the company today declining our request. I bet that company gets an earful. Thank you so much, david.

This transcript has been automatically generated and may not be 100% accurate.

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