AIG execs' retreat after bailout angers lawmakers

AIG execs' retreat after bailout angers lawmakers

news.yahoo.com

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 t

(visit the link for the full news article)

Well there ya go. Our tax dollars are given to these people against the will of the American people and here they are blowing money on nonsense.

People are losing their jobs left and right. The economy is falling apart and there is no end in sight but at least the elite can get there spa treatments.

Sickening!

news.yahoo.com
(visit the link for the full news article)

reply to post by LiquidMirage


The title should read "lawmakers feign anger at report of AIG....." They aren't angry. They knew full well that this was a handout to the wealthy. Unless of course we are talking about the minority of them that actually listened to the people and voted no on this.

"Nothing to see here .... move along......"says officer Barbrady...


Good thing we just gave 700 billion for things like this...

wheres my 40 acres and a spa treatment?


But seriously, this is to be expected... after all the wealthy must maintain they're way of life; ESPECIALLY at the expense of the poor and the masses.


There will be plenty more of this type of "pork". so if your mad now you might want to avoid this topic in the future cause there are going to be many more instances of this kind of wanton use of our tax dollars..during this heist...oops I mean crisis.

reply to post by TONE23


Let's see how outraged the law makers are when we have to bail them out again. It sounds like they have already blown through most of their last bailout money. It will be funny to see them come back again, hat in hand.... And we will just fork over more money. The fed will own all of their assets when all is said and done.

I think its time to begin our march to Washington with out pitchforks. Nothing less will make them listen to what we say.

Originally posted by Karlhungis
reply to post by TONE23

 

Let's see how outraged the law makers are when we have to bail them out again. It sounds like they have already blown through most of their last bailout money. It will be funny to see them come back again, hat in hand.... And we will just fork over more money. The fed will own all of their assets when all is said and done.

I would love to hope against hope that you are right...that even the lawmakers will say enough is enough... but I would put my money on a pink unicorn bringing me my Wall Street Journal than to count on our lawmakers putting any end to any of this.

reply to post by LiquidMirage


You are a terrorist. What we are "supposed" to be doing is sitting at home finding out who gets voted off of dancing with the stars next.

Originally posted by Karlhungis

You are a terrorist. What we are "supposed" to be doing is sitting at home finding out who gets voted off of dancing with the stars next.

Then I guess I'm a terrorist. But I have good company with George Washington and the rest of our founders!

So the lawmakers are going to try to play the "We stick up for these people!". Meanwhile they are the ones that passed the $700 billion dollar bail-out. Which still has not helped out the economy.

In fact, they are killing the dollar by printing out money. Think of it this way, if the US has $100 and you owned $10 (%10) of it. They pump another $100 in the economy, guess what, your $10 (%10) turns to $10(5%). Your money literally becomes less powerful.

The $700 billion bailout should have been given to the struggling American people. The money should have never been handed to any place other then to it's rightful owners. These greedy scumbags feed their own friends before leaving scrap for the hard working average Joe. It has to stop!

Well...if I'm not mistaken, they gave the American people a "bailout"...remember the "economy stimulus check"? What great help that was...

[edit on 8-10-2008 by scolai]

It turns out that the AIG "executive junkett", as the media and Congress
called it, was actually just a pre-planned trip for high-achieving sales
people in their insurance subsidiaries.

Story: www.abcnews.go.com...

Since it wasn't AIG's insurance portfolio which caused the company's
financial problems, it wouldn't make sense to punish the insurance
sales people by with-holding a trip that they'd been working for over
the past year. -cwm

reply to post by carewemust


Are you kidding me???? Hey my husband didn't get his bonus this year...GUESS WHAT...I DIDN'T GET TO GO ON VACATION..WHY SHOULD THEY. It's thinking like yours that causes the morons in Washington to do what they do.

reply to post by cw034


CW034, so you believe that other workers in this country shouldn't do
any better, or be rewarded financially to a greater degree than you
and your husband? Your family is the benchmark? Please explain.
-cwm

reply to post by carewemust


So it makes more sense to punish the American tax payer, who also has been working over the past year...

Sorry, but this is a crisis we are in here, and PLANS change. I know mine sure have.

and....I saw on the news that the govt. approved billions more for AIG AFTER this incident hit the headlines. How angry can they make me/us?

If only we could refuse to pay taxes...after this who seriously wants to hear the word 'tax' if our money is going to help keep these guys' cushy couches and chairs even cushier.

Originally posted by Aggie Man
and....I saw on the news that the govt. approved billions more for AIG AFTER this incident hit the headlines. How angry can they make me/us?

I wholeheartedly agree. How much of a smack in the M & F'ing face do Americans need to wake the hell up? March on these Leeches. We are pouring out our very lives at work to support these Wealth Mongers. How much is enough?!?!
I call for the prosecution of any executives that engage in this type of activity.
What is the responsibility of them to help themselves?
Fannie and Freddie were the first, then they all just lined up behind them. Are you going to tell me that no-one knew? No one!?.... All this time?
Of course they knew! That's why they did it!
If I could stand before congress, I believe that one phrase should adequately sum up what we all are feeling. "Go to hell you greedy bloodsuckers!!"


[edit on 8-10-2008 by reticledc]

Originally posted by reticledc

Originally posted by Aggie Man
and....I saw on the news that the govt. approved billions more for AIG AFTER this incident hit the headlines. How angry can they make me/us?

I wholeheartedly agree. How much of a smack in the M & F'ing face do Americans need to wake the hell up? March on these Leeches. We are pouring out our very lives at work to support these Wealth Mongers. How much is enough?!?!

I call for the prosecution of any executives that engage in this type of activity.
What is the responsibility of them to help themselves?
Fannie and Freddie were the first, then they all just lined up behind them. Are you going to tell me that no-one knew? No one!?.... All this time?
Of course they knew! That's why they did it!
If I could stand before congress, I believe that one phrase should adequately sum up what we all are feeling. "Go to hell you greedy bloodsuckers!!"

[edit on 8-10-2008 by reticledc]

I would make a call for the death penalty for corp. execs. that rape the stock holders/consumers/other interested parties of their hard earned cash/retirement funds. This is worse than murder, as it affects 100s of thousands, if not millions of individuals. Make this type of crime (i.e., the Kenneth Lay crime) punishable by death and see how often it still occurs. It may still occur less frequently, and those corp. execs. may work harder to conceal their crime, but that will make it all the more obvious that they knowingly/willingly deceiving for their personal gain.

Noooooo I believe that if you have to take a government handout to bail you out of a mess YOU created, then you shouldn't be spending MY money on spas and golf. But see, the government counts on people like YOU to go along with the program and defend it's stupidity