AIG Spent $400K on Party,Golf,Spa for Execs Days After $85B Bailout

News Type: Event — Seeded on Wed Oct 8, 2008 6:33 AM EDT

Article Source: Yahoo! News

business, congress, money, golf, bailout, bankruptcy, party, aig, ceo, lawmakers, retreat, execs

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 treatments for AIG employees, according to invoices the resort turned over to the House Oversight and Government Reform Committee....

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{"commentId":3375231,"authorDomain":"newsguru"}

newsguru

Who expected anything less of these greedy -------s?

{"commentId":3375231,"threadId":"382564","contentId":"1969046","authorDomain":"newsguru"}

2 votes

#1 - Wed Oct 8, 2008 8:44 AM EDT

{"commentId":3375763,"authorDomain":"chum"}

Chum

I really shouldn't be surprised...and yet I did think they would have more humility. Jerks.

{"commentId":3375763,"threadId":"382564","contentId":"1969046","authorDomain":"chum"}

2 votes

#2 - Wed Oct 8, 2008 9:11 AM EDT

{"commentId":3429897,"authorDomain":"savick4"}

savdi

I think they should have to give back that 400K along with why doesn't the gov't make the top exec give back those bonuses and exit payoff?? It would help the bailout -- Paulsen, Fold and all those greedy execs?

{"commentId":3429897,"threadId":"382564","contentId":"1969046","authorDomain":"savick4"}

2 votes

#3 - Fri Oct 10, 2008 11:45 PM EDT

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After the bailout, AIG executives spend $440,000 on a retreat	CNN	Wed Oct 8	95
Lawmakers steamed after ritzy AIG retreat after bailout	CNN	Wed Oct 8	1
AIG execs' retreat after bailout angers lawmakers	msnbc.com	Wed Oct 8	8
White House: AIG execs' retreat `despicable'	Associated Press	Wed Oct 8	7
After Bailout, AIG Execs Head to California Resort; Blow $400,000 on Week-Long Retreat	ABC News	Tue Oct 7	5

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AIG Spent $400K on Party,Golf,Spa for Execs Days After $85B Bailout

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