Topic: AiG bail-out bought..
Lynann's photo
Tue 10/07/08 11:15 AM
this...feel better now?

Less 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.
AIG
The St. Regis Resort in Monarch Beach, California, was the site of a week-long luxury retreat for executives of the AIG insurance company, who headed there less than a week after the federal government committed $85 billion to bail out the company.

"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).

"This unbridled greed," said Cong. Mark Souder (R-IN), "it's an insensitivity to how people are spending our dollars."

Appearing before the committee, Martin Sullivan, the AIG CEO until June, said the company was overwhelmed by a "financial global tsunami," and that "no simple or single cause" was to blame.

Goofball73's photo
Tue 10/07/08 12:00 PM
And I'm struggling to keep my head above water. Oh yeah...I feel their pain. Ok...time to rob a bank now.

AdventureBegins's photo
Tue 10/07/08 02:42 PM
How bout that Lehman Exec...

Who corrected the person who asked him why he got $500 million from the company just prior to its failure...

By saying 'It was not that much it was closer to $300 million'

Outrage is such a small word compared to what I actually feel...

And our congress will NOT address the actual problem (since they also get fundings from these schmucks). The real agenda behind these 'hearings' is so the Dems can get enough information to pin this whole thing on the Repubs...

Bet we see a bunch of new negative adds tying one or the other of the current crop of Pres Canditates to this... With cute soundbites and all.