May 12, 2009: AIG trustee aids offshore hedge funds (Politico)

  • The president singled out a building in the Cayman Islands known as “Ugland House,” which is used as an official address for tax purposes by more than 10,000 companies: “Either this is the largest building in the world, or the largest tax scam in the world,” Obama said. “And I think the American people know which it is. It’s the kind of tax scam that we need to end.”
  • “As a $182.5 billion recipient of taxpayer dollars, AIG should no longer be able to operate in the dark,” said Towns in an e-mail to Bloomberg. “The American people, who now own a major portion of this company, deserve clarification on core issues of the AIG bailout — who exactly is in charge at AIG and who is protecting the taxpayer’s multibillion-dollar investment?”