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It was just a couple days ago Jon wrote about protesters going to A.I.G. executives’ homes to protest the fact that they, you know, tanked our economy and then used government money for bonuses. Well, the protesters may need to charter another bus, because news came out this weekend that A.I.G., at this very moment, is suing the government for $306 million in a suit regarding tax payments. I couldn’t make this up if I tried.

In a move so brazen it would make Vladamir Putin proud, the company claims the government owes A.I.G. “nearly $62 million in foreign tax credits related to eight foreign entities, with names like Lumagrove, Laperouse and Foppingadreef, that were set up or controlled by financial products, often through a unit known as Pinestead Holdings.” Because that sounds completely on the level.

Of course, banks in the Cayman Islands are also involved, somehow. True story. The rest of the money, the company claims, “concerns net operating loss carry-backs, capital loss carry-backs, a general refund claim and claims for refunds of other tax-related payments that A.I.G. says it made to the I.R.S. but are now owed back.” Also $119 million in penalties.

I think that the real kicker of all this is found in this paragraph of the New York Times story that ran yesterday on this:

A.I.G. is effectively suing its majority owner, the government, which has an 80 percent stake and has poured nearly $200 billion into the insurer in a bid to avert its collapse and avoid troubling the global financial markets. The company is in effect asking for even more money, in the form of tax refunds. The suit also suggests that A.I.G. is spending taxpayer money to pursue its case, something it is legally entitled to do. Its initial claim was denied by the Internal Revenue Service last year.

Yessssss. I mean, wow. Good work, A.I.G. Way to raise the bar. I’m actually rather impressed that the company has the brass to attempt this. Perhaps The Consumerist puts it best when they say, “Can we load this company into a cannon and shoot it into the sun yet?”

So, let’s try and think of a take action item to go with this one. Um. Well. There’s.

I got nothing. If you can think of one, leave it in the comments.