Yeah, that bailout was a great idea.

From the “do I have a kick me sign on my butt” file…..

It’s been a long time since I could afford a nice vacation, and with things going the way they are, it looks to be a while before I will be going again.

But I sure feel great knowing that those stressed out AIG execs are putting my tax dollars to good use after the bailout they just got from the American taxpayers.

From the Washington Post today:

After Bailout, AIG Executives Head to Resort

UPDATED: 11:31 a.m.

Less than a week after the federal government offered an $85 billion bailout to insurance giant AIG, the company held a week-long retreat for its executives at the luxury St. Regis Resort in Monarch Beach, Calif., running up a tab of $440,000, Rep. Henry Waxman (D-Calif.) said today at the the opening of a House committee hearing about the near-failure of the insurance giant.

Showing a photograph of the resort, Waxman said the executives spent $200,000 for rooms, $150,000 for meals and $23,000 for the spa.

“Less than a week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation,” Waxman said. “We will ask whether any of this makes sense. ”

The committee will ask the company’s executives about their multimillion-dollar pay packages — some of which they continue to receive — as well as who bears responsibility for the company’s high-risk investment portfolio, which led to its near collapse just weeks ago.

“They were getting their manicures, their pedicures, massages, their facials while the American people were paying their bills,” thundered Rep. Elijah E. Cummings (D-Md.), of the executive retreat at the Monarch Resort.

Read the full story here.  Then look at the resort they chose for their retreat here.  The Smoking Gun has the invoice here.

I’d feel better about Congress taking these folks on if they didn’t use my tax dollars for the exact same things.  Their junkets are legendary.

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2 Comments

Filed under Blood from a Turnip, Duct tape zone, Left and Right, Politicians

2 responses to “Yeah, that bailout was a great idea.

  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.

  2. Pingback: AIG: Bailout $ not enough for them to buy a clue «

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