Un-fucking-believable!

AIG, Castigated for Resort Event, Plans Another One (Update2)

http://www.bloomberg.com/apps/news?pid=20601087&sid=aVXfypExIZ9M

Oct. 8 (Bloomberg) -- American International Group Inc., castigated by the White House, Congress and Barack Obama for hosting a $440,000 conference days after an $85 billion federal bailout, plans to hold another gathering for brokers next week.

The event, at the Ritz-Carlton in California's Half Moon Bay, aims to "motivate and educate" about 150 independent agents who sell AIG coverage to high-end clients, said spokesman Nicholas Ashooh.

White House spokeswoman Dana Perino today called "despicable" expenses from the first gathering, a weeklong conference last month at the St. Regis Resort in Monarch Beach. Those costs included $23,000 for spa services, according to Representative Henry Waxman, chairman of the Oversight and Government Reform Committee.

AIG considered buying advertisements to explain its position, only to be told by public relations consultant George Sard that it would be "a really bad idea."

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Obama, the Democratic presidential nominee, said during last night's debate with Republican candidate John McCain that AIG should repay the U.S. Treasury for the costs of the event.

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Comment:

Honestly, isn't this exactly how you would act if it was clear that there was absolutely no penalty for the foolish manner in which you conducted your business? I mean, if I were handed billions of dollars for my mistakes I might be inclined to make many more mistakes in the future too!

And BTW, that's going to be about $5000+ USD per taxpayer for the bailout. I know you've been hearing $2000+ USD per person in the U.S. - but they aren't all taxpayers right now. I agree that many of them will be taxpayers and that they will likely still be paying off this kind of shit. But for now, it's on the backs of 138 million or so taxpayers we have today.

Senator Obama: this is why you should have voted "nay," you dumb-fuck! It's your job as a senator to protect the people from this kind of waste and corruption - not to vote for it and thereby force the taxpayer to pay for it.