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A Week After Bailout: AIG Execs Take A Vacation?
Just six days after sticking taxpayers with an $85 billion bailout, AIG’s top executives dropped $500,000 whooping it up at a swanky California beach resort.
Among the charges American International Group racked up at last month’s week-long retreat: $150,000 for banquets, $10,000 in bar bills, $3,000 on tips, $7,000 in greens fees, $23,000 at the hotel spa and $1,400 at the salon.
“They were getting their manicures, their facials, their pedicures and their massages while American people were footing the bill!” barked Rep. Elijah Cummings (D-Md.), a senior member of the House Oversight and Government Reform Committee, which is probing the ever-growing financial collapse.
http://www.nydailynews.com/money/2008/10/07/2008-10-07_aig_big_shots_get_500g_vacations_on_taxp.html
I was watching the new yesterday and there was a man defending AIG saying that it was scheduled in 2007 so therefore we can’t blame them for going ahead with the so called conference. What a load of crap! If I schedule something and then find myself in financial difficulty, I cancel it. And if there was anything that was prepaid then that would be a loss, but it would be much cheaper still to cancel then to go ahead and go. Not to mention what kind of conference requires all these lavish expenses? I thought the purpose of a conference was to learn something, not to go on a spending spree. I knew when they decided to vote in that 700 billion package that we were going to be the ones footing the bill for CEO’s and other high ranking people were going to be the ones to benefit from this bailout and not you and I , or the economy. I would like to know why they feel the need to line the pocket of the rich some more especially since that is how we got in this mess to start with. Everything that the government has done since Bush has been in office has been aimed at making the rich richer and inevitably the poor poorer. As they say crap rolls down hill and we are at the bottom with it landing on us.
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