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After Bailout, AIG Execs Head to California Resort
ABC ^ | 10/7/08 | Brian Ross & Tom Shine

Posted on 10/07/2008 12:51:40 PM PDT by steve-b

Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today.

"Rooms at this resort can cost over $1,000 a night," Congressman Henry Waxman (D-CA) said this morning as his committee continued its investigation of Wall Street and its CEOs.

AIG documents obtained by Waxman's investigators show the company paid more than $440,000 for the retreat, including nearly $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.

"Their getting their pedicures and their manicures and the American people are paying for that," said Cong. Elijah Cummings (D-MD).

"This unbridled greed," said Cong. Mark Souder (R-IN), "it's an insensitivity to how people are spending our dollars."...

(Excerpt) Read more at abcnews.go.com ...


TOPICS: Business/Economy; Crime/Corruption; Front Page News
KEYWORDS: 110th; aig; bailout; taxdollarsatwork
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1 posted on 10/07/2008 12:51:42 PM PDT by steve-b
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To: steve-b

One needs a massage after looting and pillaging.

Sadly, there is no sarc tag to be put here.

Hang em high!


2 posted on 10/07/2008 12:52:48 PM PDT by Red in Blue PA ("I will stand with the Muslims should the political winds shift in an ugly direction" Obama, from Au)
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To: steve-b

you can’t honestly put “Waxman” and “investigators” in the same sentence and BELIEVE it?

What an a—h*le


3 posted on 10/07/2008 12:53:25 PM PDT by HappyinAZ
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To: steve-b
Waxman doesn't get it.

All Congress needs to do is stipulate that for any firm being "bailed out" the Government Service (GS) wage scale will be imposed.

It's not like the government doesn't successfully hire CPAs, lawyers, economists, etc. with those wage offerings ~

Wonder why Henry doesn't want to do that?

4 posted on 10/07/2008 12:57:25 PM PDT by muawiyah
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To: steve-b
Where do Waxman and his fellow RATs go in Boca for their retreat? That said, the idiots at AIG need a good coat of tar then feathers followed by a ride out of town on a rail, suitably inserted to symbolize what they've done to the economy. Chris, Barney, Harry, and Nancy need to be on the next rail.
5 posted on 10/07/2008 12:58:21 PM PDT by NonValueAdded (don't worry, they only want to take water out of the other guy's side of the bucket.)
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To: HappyinAZ

It’s really hard to focus attention on the crooks in Washington when these a$$ho!e$ pull this cr@p.


6 posted on 10/07/2008 12:59:42 PM PDT by henkster ($700 billion debt swap with foreign banks to finance government borrowing)
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To: NonValueAdded

If McCain came up with that as a plan, I guarantee it would win him the election.

People are angry, and justifiably so.


7 posted on 10/07/2008 1:00:02 PM PDT by Red in Blue PA ("I will stand with the Muslims should the political winds shift in an ugly direction" Obama, from Au)
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To: All

I know the Business Socialist/Liberal Globalist element in here will poo-poo this, but it is absolutely treacherous for AIG execs to go party after they are bailed out by the government.

This stinks even more as I am watching the stock market tank again...of course the Business Socialist/Liberal Globalist crowd will make some excuse for this failure


8 posted on 10/07/2008 1:01:16 PM PDT by UCFRoadWarrior (If You Are Not Voting Third Party Or Independent...You Will Definitely Be Voting For A Socialist...)
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To: steve-b

Yeh.....and after Katrina, 50 Congress Reps went to Holland to learn about dams and dikes....They all paid their own way, right??


9 posted on 10/07/2008 1:02:54 PM PDT by Sacajaweau (I'm planting corn...Have to feed my car...)
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To: steve-b

When the elite thumbed thier noses at the French, mass executions began. I wouldn’t mind seeing a few of these greedy, corrupt heads roll.


10 posted on 10/07/2008 1:04:22 PM PDT by FreeAtlanta (NOBAMA - it is for our future)
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To: muawiyah
Wonder why Henry doesn't want to do that?

Could it be the lobbyists whispering in Henry's ear, that are paid for by the people going on these half-million dollar spa retreats?

I do like your idea - you want to take taxpayer money, you take GS wages.
11 posted on 10/07/2008 1:04:35 PM PDT by af_vet_rr
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To: steve-b

Kinda like your parents paying off your credit card, then to celebrate you immediately go out and run it up again. Morons.


12 posted on 10/07/2008 1:05:23 PM PDT by ladtx ( "Never miss a good chance to shut up." - - Will Rogers)
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To: steve-b

See DealBreaker’s coverage of this.
http://dealbreaker.com/2008/10/we-also-have-reason-to-believe.php

NYS Insurance Superintendent Eric Dinallo (nominated by the infamous ex-Governor Eliot Spitzer) actually DEFENDED these expenditures in his testimony. And as at least one of the DealBreaker posters helpfully pointed out, it’s unlikely that “manicures, pedicures, and facials” were the services really provided for the $150,000. But of course it would be a tad uncomfortable for Spitzer-pal Dinallo to explain in public what sort of services were actually rendered.


13 posted on 10/07/2008 1:11:30 PM PDT by GovernmentShrinker
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To: af_vet_rr
There shouldn't be any other way.

Over the history of the Republic millions of Americans have worked for the government and successfully carried out their assigned tasks. They worked at government wages. Many of them were as well educated and as intelligent (and aggressive) as their counterparts in the private sector.

With the government literally taking over these businesses, the government pay scale makes a lot of sense.

14 posted on 10/07/2008 1:11:36 PM PDT by muawiyah
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To: steve-b; All

Fine, now oh mighty “non-partisan” ABC, tell us just where are Jamie Gorelick, Franklin Raines, and Jim Johnson residing today - all with their $8 figure exit passes from Fred and Fan.

Oh sorry, oh great ones at ABC, I forgot that that - the Freddie and Fannie failures - never happened, at least not according to the Obama campaign instructions to the media!!!!!


15 posted on 10/07/2008 1:11:39 PM PDT by Wuli
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To: steve-b
You have to understand in CA this is where the Limousine Liberals come to play and live. See all the financial and moral rules apply to “little” people. Not them.
16 posted on 10/07/2008 1:12:42 PM PDT by Ugot2Bkidding
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To: FreeAtlanta
In the end the overwhelming majority of victims of the French Revolution were peasants in the Von Dee.

Your typical "elite" escaped, or was, in fact, running chunks of the Revolution.

Napoleon understood these people which is why he was able to subvert the whole thing so readily.

17 posted on 10/07/2008 1:13:51 PM PDT by muawiyah
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To: steve-b
So? Since no one was watching or acting this is deregulated capitalism at its best.

Its just business, nothing personal. /s

18 posted on 10/07/2008 1:21:59 PM PDT by Realism (Some believe that the facts-of-life are open to debate.....)
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To: steve-b
Situated high on a bluff overlooking the majestic Pacific Ocean stands a landmark resort of legendary proportions.

Located midway between Los Angeles 4th and San Diego 5th Circle of Hell , the Tuscan-inspired St. Regis Resort, Monarch Beach is devoted to the pursuit of service greed and elegance self gratification with a seamless blend of comfort moral depravity and technology mindless indulgence.

19 posted on 10/07/2008 1:22:14 PM PDT by justkate
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To: muawiyah

no. No. NO NO!!!!!

The last thing we want is for them to start emulating the federal government! First, they would all be SES (Senior Executive Service) which has slightly higher pay. Next, they would contract with the exact same resort to hold a conference there. They would lock in government rates for their employees for the rooms and pay 10x the going rate for the meeting space and meals (thus satisfying the resort’s requirements). Then they would invite everyone and their uncle to the conference to feast at the trough as well. Do we really want them to act like government employees? ;)


20 posted on 10/07/2008 1:23:55 PM PDT by leakinInTheBlueSea
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