AIG Executives Blow $440,000 After Getting Bailout

Discussion in 'Economy' started by WillowTree, Oct 7, 2008.

  1. WillowTree
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    WillowTree Diamond Member

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    If you'd just gotten a government bailout, you might be tempted to hold a retreat at a nice California hotel -- and that's exactly what American International Group (AIG: 3.51, -0.36, -9.30%) executives did.

    The committee on Oversight and Government Reform held a hearing on Tuesday at 10:00 a.m. Eastern time. to address and examine downfall of AIG, the world’s largest insurance company. The committee planned to discuss the financial excesses and regulatory mistakes that led to AIG’s government bailout.

    One of the items discussed was AIG’s expenditure of $440,000 for a corporate retreat at the St. Regis Monarch Beach resort in Los Angeles, Calif. These funds were spent on Sept. 22, a week after the Federal Reserve extended an $85 billion emergency loan to AIG to keep it from going bankrupt due to insurance liabilities.



    AIG Executives Blow $440,000 After Getting Bailout - FOXBusiness.com
     
  2. CrimsonWhite
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    CrimsonWhite *****istrator Emeritus Supporting Member

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    Unfucking believable.
     
  3. dilloduck
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    dilloduck Diamond Member

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    Please don't tell me you're shocked. Wall Street doesn't even intersect Main Street.
     
  4. CrimsonWhite
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    CrimsonWhite *****istrator Emeritus Supporting Member

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    Not shocked. Angry.
     
  5. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    Are we glad that the $700 Billion package came with congressional oversight? (For whatever that's worth)

    -Joe
     
  6. WillowTree
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    WillowTree Diamond Member

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    did you look at the amount they spent at the spa? Everybody grab your ankles now. :badgrin:
     
  7. dilloduck
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    dilloduck Diamond Member

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    Well take off your partisan hats before you do because if we can't overcome partisanship after a terrorist attack and now a GIANT Wall Street rip off, we're screwed. Stick a fork in the USA. It's too busy living in fairytale land.
     
  8. CA95380
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    CA95380 USMB Member

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    Duck .... I am sure glad that someone is taking this as calm as you are. No. There is nothing that we can do about it except bitch! :doubt: and sit by and see it happen again, over and over. :doubt:
     
  9. dilloduck
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    dilloduck Diamond Member

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    I suspect there is a LOT more we could be doing but we are too busy playing rep vs dem. We have x amount of time. The more of it we spend bitching the less we spend on a solution.
     
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  10. Navy1960
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    Navy1960 Senior Member

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    Mr. Sullican what were your views on this? " well if I had seen bills like that I would have asked questions" So are you all still overjoyed at giving these shitbirds 700 billion dollars. Now more than ever, I think it's important we just confiscate all the assets of these companies as collateral, the jet's,buildings, and mansions in the Hamptons.
     

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