AIG – Down and out after a bailout, GO FOR A SPA

What do you do after a federal bailout? Looking at looming unemployment? Worried about your future?

Nahh, don’t worry. How about go spend $440,000 in a posh resort in california?

According to CNN, that is what AIG did..

..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, California, 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.

I guess the executives have a different rule than the middle class.

Jail them

Advertisements

One response to “AIG – Down and out after a bailout, GO FOR A SPA

  1. AIG Blog Relations

    Earlier today, AIG announced an important policy change – one that we wanted to be sure you knew about.

    A short time ago, our Chairman and CEO Ed Liddy said that he has ordered the immediate cancellation of all outside meetings, conferences, and recognition events across AIG, except those that are required by law or that are deemed absolutely critical to sustain our ongoing business needs.

    Given AIG’s commitment to our customers, business partners, regulators, and American taxpayers, coupled with the new and very different challenges our company now faces, we take these responsibilities extremely seriously. Their trust is critical to our success. We recognize the need to be sensitive about all company expenditures.

    As we move forward, we will continue our focus our efforts to pay back the $85 billion loan from the Federal Reserve Bank of New York as quickly as possible.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s