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Old 10-07-2008, 01:03 PM
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AIG Bailout

Did anyone see an article about several top execs taking a $1,000,000 trip after AIG received their bailout money? There was something about staying in $1000/night rooms. I would like to read the article.
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Old 10-07-2008, 01:06 PM
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Quote:
Originally Posted by kjohnson View Post
Did anyone see an article about several top execs taking a $1,000,000 trip after AIG received their bailout money? There was something about staying in $1000/night rooms. I would like to read the article.
I have retirement in a sub of AIG so I'm keeping a close watch
http://www.guardian.co.uk/business/2...unch.useconomy
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Old 10-07-2008, 01:07 PM
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http://voices.washingtonpost.com/liv...cutives_h.html

Somebody better go to F'in jail.
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Old 10-07-2008, 01:11 PM
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AIG Bailout

Thanks. I am relieved now that I see it was only half of what I was told. Those c--k s---kers. We're paying for that indirectly.
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Old 10-07-2008, 01:11 PM
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Insanity at it's finest
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Old 10-07-2008, 01:33 PM
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Excerpt From Washington Post

Less than a week after the federal government offered an $85 billion bailout to insurance giant AIG, the company held a week-long retreat for its executives at the luxury St. Regis Resort in Monarch Beach, Calif., running up a tab of $440,000, Rep. Henry Waxman (D-Calif.) said today at the the opening of a House committee hearing about the near-failure of the insurance giant.

Showing a photograph of the resort, Waxman said the executives spent $200,000 for rooms, $150,000 for meals and $23,000 for the spa.

"Less than a week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation," Waxman said. "We will ask whether any of this makes sense. "

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Old 10-07-2008, 01:34 PM
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We will now spend millions more dollars figuring out who we can blame for this. Some receive lots of satisfaction in being able to firmly point a finger and if that's the case then so be it. I look at it as getting blood from a turnip, as my grandfather used to say...
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Old 10-07-2008, 01:34 PM
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AIG Bailout

I am not trying to get on a bandwagon here, but I emailed my Congressman after I read this atricle. I hope that everyone who reads this will do the same. I am tired of paying $14K+ in Federal taxes every year for sh-t like this. It piss-s me off.
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Old 10-07-2008, 01:36 PM
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Henry Waxman - The guys a joke.

What is he all done questioning Roger Clemens now? How far did that get?

Pleeeezzzee....
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Old 10-07-2008, 02:12 PM
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Here's their side of the story.....

Lawmakers lashed out at AIG for ``wining and dining'' its executives in a weeklong conference at the St. Regis Resort in Monarch Beach, California, just days after the bailout. The stay cost $440,000, Waxman said.


``Have you heard of anything more outrageous?'' said Representative Elijah Cummings, a Maryland Democrat, noting that the bill included $23,000 for spa services. ``They were getting their manicures, their facials, pedicures, massages while the American people were footing the bill.''


AIG's Response
The trip was scheduled a year earlier to reward top salespeople for the company's life insurance business, said AIG spokesman Nicholas Ashooh.
``It's as basic as salary as a means to reward performance,'' Ashooh said in a telephone interview. ``It was not top AIG executives running away to California.''



I'm not buying it.....
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