PARTY TIME FOR BANKERS
WITH YOUR TAX DOLLARS BAILOUT!!!
Execs’ posh retreat after bailout angers lawmakers
By ANDREW TAYLOR, Associated Press Writer Tue Oct 7, 10:57 PM ET
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.
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.
http://news.yahoo.com/s/ap/20081008/ap_on_go_co/meltdown_aig;_ylt=Akv0CNlNr.yTPrX3l_oZnfwDW7oF
It is a scam isn’t it? Here’s some more bailout humor: http://www.youtube.com/watch?v=uZUXXSxZPhw
Comment by jody — October 9, 2008 @ 8:08 am
Thanks jody, will take a look at it tomorrow.
Comment by kerry — October 9, 2008 @ 11:16 pm