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Friday, October 10, 2008

This is why the US economy is suffering : AIG Resort Vacation

Sorry to rant but here is a prime example why economic bailout plans in theory might help, but in reality they actually hurt the economy. The executives of this country (especially AIG) need to learn their lesson before they are given any type of economic relief.

"WASHINGTON (AP) — Less than a week after the federal government had to bail out American International Group Inc., the company sent executives on a $440,000 retreat to a posh California resort, lawmakers investigating the company's meltdown said Tuesday.

The tab included $23,380 worth of spa treatments for AIG employees at 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."

If it was up to me, these executives should be forced to pay back the money to the taxpayers. We cannot let this continue.

1 comment:

  1. WOW!! I wish they government would pay for us hard working non-executives to go to these resorts ... Maybe we could get something out of our hard earned tax dollars!