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AIG execs get treated to a $440,000 retreat

Discussion in 'Members' Lounge' started by reckedracing, Oct 8, 2008.

  1. reckedracing

    reckedracing TTIWWOP VIP

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    WASHINGTON - Days after it got a federal bailout, American International Group Inc. spent $440,000 on a posh California retreat for its executives, complete with spa treatments, banquets and golf outings, according to lawmakers investigating the company's meltdown.
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    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.

    The retreat didn't include anyone from the financial products division that nearly drove AIG under, but lawmakers still were enraged over thousands of dollars spent on outing for executives of AIG's main U.S. life insurance subsidiary.

    "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."

    AIG execs' retreat after bailout angers lawmakers - Yahoo! News
     
  2. xj0hnx

    xj0hnx I wanna be sedated VIP

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    So some company execs that had nothing to do with the problems were out doing what rich executives do, and some democrat cried about it because there's poor people that can't do that? Where's the news? See, the Wallstreet guys knew the bailout was a scam from day one, the economy not immediately collapsing should have been the first indication that maybe we should have taken our time with this plan, as the only people pushing it hard were hte ones benefiting, and the politicians didn't go along with it until MORE pork was added. The sheeple are disgusting.
     
  3. teggyguy

    teggyguy high density foot.

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    i've been saying the same shit for a while man...
    this is whack why the hell is the government trying to buy everything up...
     
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