WASHINGTON - 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.ADVERTISEMENTAIG 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.The retreat didn't include anyone from the financial products division that nearly drove AIG under, but lawmakers still were enraged over thousands of dollars spent on outing for executives of AIG's main U.S. life insurance subsidiary."Average Americans are suffering economically. They're losing their jobs, their homes and their health insurance," the committee's chairman, Rep. Henry Waxman, D-Calif., scolded the company during a lengthy opening statement at a hearing Tuesday. "Yet less than one week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation."Execs' posh retreat after bailout angers lawmakers - Yahoo! News
Friday, October 10, 2008
Your Tax dollars at work
If you want to stop this sort of excess, vote out every incumbent who has deregulated our financial system since the 80's. How do you know who they are? They are all of the republicans and all of the establishment democrats like Clinton, Schumer, Frank, etc.. you know them when you see how they vote in favor of the corporate elite and against the working masses. There are no meaningful R's or D's in front of their names in reality, only C's for the corporatists that they are. Look for those who vote to give immunity to the telecoms who spied on americans. Look for those who voted for this war that has enriched the military industrial complex. look for those who voted for this bail out the first time around before it had any protection for the american tax payer in it. I wish i could say, look for all of those who voted for this bail out but now i read that congress was being threatened with martial law if they didn't pass this bail out. still, there were brave men and women, who did not vote for this redistribution of our wealth to the richest individuals and corporations in the world. look for them too.