AIG execs throw party after bailout

[superdave1984]

Another example of our government stupidity.
AIG execs' retreat after bailout angers lawmakers - Yahoo! News

AIG sent its executives to the coastal St. Regis resort south of Los Angeles even as the company tapped into an $85 billion loan from the government it needed to stave off bankruptcy. The resort tab included $23,380 worth of spa treatments for AIG employees, according to invoices the resort turned over to the House Oversight and Government Reform Committee.

"Average Americans are suffering economically. They're losing their jobs, their homes and their health insurance," the committee's chairman, Rep. Henry Waxman, D-Calif., scolded the company during a lengthy opening statement at a hearing Tuesday. "Yet less than one week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation."

"You have cost my constituents and the taxpayers of this country $85 billion and run into the ground one of the most respected insurance companies in the history of our country," said Rep. Carolyn Maloney, D-N.Y. "You were just gambling billions, possibly trillions of dollars."

 

[hohenfelsvol]

I watched a report on that this morning. Disgusting.

 

[dan4vols]

I wonder if they've seen where the bailout may not be the effective lifeguard floatie as Japan and Europes stock markets are reeling. They may be fiddling as Rome burns.

 

[BigPapaVol]

International markets are crumbling because capital is running to safety of US treasuries and US investments. Isn't helping them that the dollar is creaming all of their currencies.

 

[UT IE 95]

But Bush said the bailout was critical to save us from depression, and we had to act fast or it would be too late.

 

[UT IE 95]

International markets are crumbling because capital is running to safety of US treasuries and US investments. Isn't helping them that the dollar is creaming all of their currencies.

You're going with alot of creaming I see.

 

[BigPapaVol]

You're going with alot of creaming I see.

It's a creaming kind of day and my overly limited vocabulary just doesn't let me change that.

 

[dan4vols]

It's a creaming kind of day and my overly limited vocabulary just doesn't let me change that.

a true GWB supporter who has succeeded. I may cry if he types nuculer.

 

[BigPapaVol]

a true GWB supporter who has succeeded. I may cry if he types nuculer.

nvm

 

[volmanbill]

I've stayed at that resort. It's the St Regis Monarch Beach in Dana Point. That place is off the chain.

Oddly enough, it was another financial institution (Wachovia) that footed my bill too.