what do you think the bailout funds will be used for? ?
June 6, 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…
Does it make you mad? What do you think? copy and paste this and tell all your contacts!
It will be used to make the American public owe the government more money.
I’m mad as hell and I’m not gonna take it anymore.
I’m a human being damnit. My life has value.
I think a lot of them are seeking asylum somewhere.
Congress started this mess , and now they made another .Government should stay out of the business world !
American top executives have been getting paid outrageous amounts and wasting corporate money for decades now, and the shareholders and the customers and the government and everyone else affected has not objected until now.
Has the American public just woken up? This has been costing us all along.