global warming and all the other problems, and guess how the bailout money was spent!?
June 5, 2010 by
Filed under company retreat
I posted this a few minutes ago and it got deleted. So here it is for you to look over. Pass the info on!
the Aig spent the tax dollars bailout money this way: 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.
Click here to see the full hotel bill
According to the receipt from the St. Regis, the eight-day company retreat was a lavish one — $139,000 was spent on hotel rooms, while even more money — $147,301 — was spent on banquets. Another $23,380 was spent on undisclosed spa treatments and another $6,939 was spent on golf. A full $9,980 was spent on room service and food and cocktails at the hotel lounge.
The St. Regis Monarch Beach resort is described on its Web site as “a landmark resort of legendary proportions.”
Legendary, indeed.
here is the link: http://www.foxbusiness.com/story/markets/industries/finance/aig-executives-blow–getting-bailout/
Does it make you mad? What do you think?
BB you dont accept email so I can only hope you see this post…I would like to read about what you said, do you have a reference url where I can look?
omggggggggggggggggg
We GET what we vote for. We voted for a Business Man to be President in 2000- and we “Bought It.”! He gave Us the “Business.” !!! I’m not mad- because this is what I expected. I voted for Gore that year, & I never regretted it for a moment. NOW we have another pivotal Election coming up- & it’ll be Interesting to see if Our Country has “learned” Anything… There’s ALWAYS Hope !!!
Kinda like the 12 to 15 Thousand Global Warming Alarmists jumping onto pollution-spewing jet planes to attend a climate conference at luxury resorts in Bali, Indonesia to discuss guess what??………… How WE (NOT they) should be more responsible in our use of energy!
Here’s something to start with:
http://www.dw-world.de/dw/article/0,2144,3002637,00.html
Carbon Footprints Trample on Climate Conference’s Aims
“With 11,000 participants from all over the world, the conference is the biggest yet. And while all the delegates have come to Bali to talk about preventing global warming, the United Nations estimates that they will also emit 50,000 tons of greenhouse gases along the way.”
Note: The 11,000 number does not include several thousand media members there to cover the event.
And another:
“According to this estimate from Bloomberg, the conference will generate as much pollution as 20,350 cars used for a year. So where are these people staying? At eco-lodges using gray water for irrigation of the landscaping? At bungalows made of bamboo and other natural materials, powered by solar? Ummm, no.
With some 15,000 delegates attending (some arriving by private jet), most are staying at the biggest, brashest hotels on the island, located in the Nusa Dua area. The names kind of give it away: Grand Mirage Resort, Swiss Grand Bali, Melia Bali Villas & Spa Resort, Nikko Bali Resort & Spa, Grand Hyatt Bali, and others that certainly did not have the word “energy efficient” in their business plan. According to the Telegraph, they’re not above a little price gouging either:
Hotels, many of which fall into the bracket of some of the most luxurious in the world, have spotted the chance to charge accordingly, with many saying accommodation is only available now at around £400 to £500 a night for a small single room.
The hotel where British ministers will stay, the Westin Resort Nusa Dua, describes the experience of staying there as “sheer indulgence.””
http://www.hotelchatter.com/story/2007/12/11/94919/392/hotels/_Climate_Conference_Participants_Leave_Carbon_Footprints_All_Over_Bali_Hotels
sad as it is I expected and new this was gonna happen I seriously think every one should get together and kick out congress for even allowing this to happen……… as much pain as every one is in… small business closing every day and they go and bailout some of the richest men on the planet…… but we cant give a 1000.000 dollar loan to John smith down the street to help him feed his family for a month while his business goes under cause all these god damn idiots we keep reelecting in office year after freaking year…….. my question is when will people wake up and smell the rotten toast ?
Did you see the hearing on Monday 10-06-08? They discussed the almost a half a Billion dollars to lobby for bail out money.
For those that want to blame Bush. The president is not responsible for every illegal act that occurs during his administration. I’m also not sure this is bailout money. I believe the US government bought 80% of AIG with the 85 billion. That means that we as majority owner could refuse to pay for these executives vacation in California. I have also heard that the FBI is investigating all the failed companies for illegal activities and stock manipulation.
Things like this happen because every ballot printed has a very important and much needed line missing from it. This line is called NONE OF THE ABOVE. If none of the above gets the majority vote then none of the current candidates would be allowed to run for public office again. Just like the line item veto it is desperately needed.