AIG spends thousands of TAXPAYER $$$ on vacation and spa treatment after bail out!!!!

[Vedubin01]

These bastards spent $440,000 of OUR money on spa treatments!!!!!!!!!!!!!!!!!!



link


AIG Executives Blow $440,000 After Getting Bailout
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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) 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.

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.

The Hotel Bill

[Maluco]

I give my money to Caesar. Caesar gives it to AIG. As far as I'm concerned, they spent thousands of Ceasar's money. Now hopefully he gives a fk enough to do something about it...

[der affe]

hang them by the neck until dead by their own freshly removed testicles

[SpecM]

bastards

this is why rich people suck... present company excluded, Vedubin01

[devonjordan]

Monarch Beach Regis is right down the street, I used to work there. Really nice hotel.

[z31maniac]

Read that story yesterday and was outraged.

[Old'n'Slow]

Ahhhh....another manifestation of the Wall Street culture known as "goodie for us, fuck all y'all!

Piggies to the trough.

[z31maniac]

Public hangings are in order.

[scabzzzz]

I cant even be angry. The whole bailout is a big piece of shit, just like all American politicians. I fucking hate the upper class.

[So Live]

Lol check out this email i got:

If you had purchased $1,000 of Delta Air Lines stock one year ago, you would have $49 left.

With Fannie Mae, you would have $2.50 left of the original $1,000.

With AIG, you would have less than $15 left.

But if you had purchased $1,000 worth of beer one year ago, drunk all of the beer, then turned in the cans for the aluminum recycling REFUND, you would have $214 cash.

Based on the above, the best current investment advice is to drink heavily and recycle.

[Justin B]

I find it unlikely that you'll get a quarter back what you spend on beer by recycling the cans. That math is fucked up, lol.

[z31maniac]

^Meh, I drink the hard stuff.

[trashcop 80s 80s]

$1000 / $13 (cheap 24 pack) = 76 cases of beer
1 case (24 pack) beer is about 1 pound of aluminum
1 lb Al = $0.80
76 x $0.80 = $60.8

$60.8 return, still doing better than those stocks.

People invested their money, the people at the top ran out and bought Lambos and million dollar mansions while living in luxury everywhere they go, they return your money at a huge loss (because they spent it), and now they are asking us to help save the companies with a bailout because it will hurt us and our economy if we don't. We got screwed.

[So Live]

Going by your math but per can basis:
76 x 24 x 0.05 = $91.2

My return is:
1000 / 20 = 50 (for a decent 30)
50 x 30 x 0.05 = $75

Right on.

I love google calculator for stupid stuff like this haha

[kronus]

This is why the bailout is a thoroughly idiotic idea.