AIG Execs Vacation After Bailout
Posted on October 7th, 2008 by The Reformer into the Uncategorized categoryLess than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today.
Rooms at this resort can cost over $1,000 a night," Congressman Henry Waxman (D-CA) said this morning as his committee continued its investigation of Wall Street and its CEOs.
AIG documents obtained by Waxman's investigators show the company paid more than $440,000 for the retreat, including nearly $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.
"Their getting their pedicures and their manicures and the American people are paying for that," said Cong. Elijah Cummings(D-MD).
Is it possible to fire every member of Congress and start over?
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October 7th, 2008 at 10:56 am
bastards
October 7th, 2008 at 11:46 am
Actually yes. It’s called November 4th, and you just vote for the challenger in every race.
Also, here is a defense of the company:
“Having been at large, global companies, and knowing what condition AIG was in when the injection occurred, the absolute worse thing that could’ve happened after the government extended 85 billion dollars would have been for traders and major underwriters to flee the company…there was a thinking that they needed to bring everyone together…this was not a crazy corporate decision.”
October 7th, 2008 at 3:14 pm
It was this line of thinking that led Frank Damazio to start the “Forward Together Campaign” in which he asked CBC for 5 million dollars. The economy was down (or so they thought…) and Frank wanted to give his congregation a goal to look forward to.
It backfired on Frank when people started fleeing his church…I don’t know how it will work for AIG, but they are not off to much of a start.
October 7th, 2008 at 4:20 pm
If the 5 million had been the first time he had asked for money, it probably would have worked. But if my memory is correct, he had been asking for money constantly, and the five million was above and beyond the tithe. It’s pretty much what prompted this blog, and that church has never been the same since.
October 7th, 2008 at 5:53 pm
These people should
notnever have even began to plan a vacation like that with our atrocious economy. They are fools! I hope they get a taste of their own medicine.October 7th, 2008 at 9:24 pm
Vacation?
How about they go and stay in some dirty Holiday Inn/Mariott in some town they don’t want to be in while visiting in-laws like the rest of America has to do with their vacation days?
That’s vacation. And it’d be around 400 times cheaper.
October 8th, 2008 at 8:37 am
I also heard that the VP at AIG in charge of the dept. that led to the failure of AIG was fired.. and then hired back at a salary of $1 million a month
October 8th, 2008 at 2:30 pm
AIG hits up Fed for more money
This is really starting to make me mad
October 9th, 2008 at 8:12 am
Congress gave them another $63 billion (or so) to help them out.. go figure
October 10th, 2008 at 8:29 am
Why do these guys remind me of the Properity Pastors?
October 11th, 2008 at 7:44 am
I’m all for the death penalty for these evil “white-collar” criminals - China does it - maybe we should to…
October 13th, 2008 at 7:22 am
Because the City Church took all of its professional Pastors to Hawaii for a similar event last year?
October 15th, 2008 at 4:01 pm
That is a picturesque phrase.. PROFESSIONAL PASTORS… professional money grubbers…
It kind of distorts the long laid concept that pastors are “called to the ministry and ordained of God”