AIG Execs Livin La Vita Loca After Bailout with Our Hard Earned Tax Dollars


Goverment oversight? There was none before, why would anyone think there will be any in the future? This is why one never rewards bad behavior as there is never a learning curve as to what was done wrong. Throwing $’s at problems never solves the root cause.

Think it was hard to stomach the $700 + billion bailout of greedy corporations when the law was passed by Congress? The following actions by AIG was just a kick in the gut to  “We the People.”  What else would any one expect from a corporation that was just rewarded for bad behavior? Does any one thing AIG learned a lesson by their risky and failed business practices?

Following the corporate gift, the corporate welfare present that the American tax payers gave companies last week in the socialist bailout plan, AIG decides to show their appreciation to “WE THE PEOPLE” by livin’ la vita loca and spending $440,000 on a posh California retreat for its executives, complete with spa treatments, banquets and golf outings.

AIG 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.

 $85 billion federal bailout = let the good times keep rolling.

This is precisely the reason why you do not bail out companies that earned the right to go belly up. Oversight? Before the Federal Government can even begin to have oversight with companies, out of control corporations like AIG have to have some form of responsibility.

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  • Comments

    18 Responses to “AIG Execs Livin La Vita Loca After Bailout with Our Hard Earned Tax Dollars”

    1. Richard on October 8th, 2008 8:06 am

      Maybe I’m too cynical, but my suspicion is that the “anger” put on by the congressmen was mainly for purposes of political posturing. After all, they are major beneficiaries of the “wine and dine” system, though not in this case.

      Meanwhile, I got a renewal notice on my car insurance policy from AIG … asking for a substantial increase.

      Ain’t gonna do business with you guys no more….

    2. txchic on October 8th, 2008 9:48 am

      why does this not surprise me?

      we should have taken this opportunity to insure that ceos as well as their employees never recieve bonuses and or perks that out weigh their yearly income. this is exactly the behavior that’s left investors gun shy in wall street. meanwhile our politicians are all so eager to get their campaign contributions from the same companies that they lack the balls to implement new legislation regarding publicly held companies. the whole thing makes me ill!

    3. murph on October 8th, 2008 2:35 pm

      Congress has handed AIG $85B and they are spending it. Is anyone surprised on how the fat cats will spend our money.There is no telling what this 85B will be spent own, but I do see a happy Christmas for AIG and many Caribbean vacations for those cold winter days. Good work Congress and I bet you get a jet and vacation out of this to.

    4. Maggie on October 8th, 2008 4:03 pm

      Was watching a man on tv a few days ago and with the bailout money… there are so many loopholes, the fatcats will still get their big paychecks out of it.

      We are just sending the money to the ones who got the country in the mess to start with. Can hide the money in other havens. The rich get richer and the middle working class gets the bill.

    5. Maggie on October 8th, 2008 4:08 pm

      Saw this on Greta..

      Todd Palin: The Ultimate American Feminist
      By Kerri Houston Toloczko, 10/7/2008 1:26:52 PM

      Immediately after watching Greta Van Susteren of Fox News interview Todd Palin this week, the leaders of America’s feminist organizations bolted to their any-color-but-pink cell phones to discuss presenting Mr. Palin with their highest honor, the Feminist of the Year Award.


      Hardly. But they should have.

      It is more likey that they are at Home Depot shopping for ladders to send Governor Palin so that she can more efficiently whack her head on the glass ceiling that they are always complaining about.

      Behind every successful woman there’s a husband (Quick! Run and see if Gloria needs smelling salts!) so devoted to his wife, faith and family and so unassumingly confident in his own man self that he is genuinely thrilled with her success, and proud to stand beside her (or maybe a smidge to the back) as she runs for the second higest office in the land.

      In his interview with Ms. Susteren of On The Record, he couldn’t have been more proud and supportive of his wife’s political status or more content being Todd Palin.

      Clearly, the operative pronoun in the Palin household is “us,” or in its possessive form, “ours.”

      Isn’t this what women have been working toward since burning their bras and hiking their hemlines? A society in which a man can proudly bask in the glow of his wife’s accomplishments?

      Todd gets it. How come the feminsts don’t? Or maybe they do get, it but because she is a conservative pro-life Republican with five beautiful (gasp!) children and used scholarship money from a (double gasp!) beauty pagent to pay for college, they would prefer to sweep the awesome accompliment of Sarah and Todd Palin under the rug just like crumbs from the cookies they wouldn’t be caught dead baking.

      As feminists’ attitudes toward Sarah Palin further reduce the credibility of their movement, it couldn’t happen to a more deserving bunch of hypocrites.

      Ms. Houston is Senior Vice President for Policy at the Institute for Liberty, advocating for limited government solutions on a wide range of public policy issues. She is also a Senior Analyst with the Alliance for American Manufacturing, charged with finding creative solutions that harness market forces to strengthen manufacturing in the United States and analyzing the affect of the changes in our manufacturing base on U.S. national security. This is reprinted from

    6. Maggie on October 8th, 2008 4:35 pm

      This is the invoice from the weekend they took per… Smoking Gun..

      This is the son of Democrat state representative son in Tenn.. was indicted for hacking into Sarah Palin’s email.

    7. Maggie on October 8th, 2008 5:36 pm

      According to the news tonight..AIG needs 38 billion more to keep from going bankrupt. They defended their party and said it was set months in advance to reward the top works…(for what? running the company into bankruptcy?) and they have another party coming up in Northern Calif..this weekend. Rooms are ONLY $700 or so there.

    8. Wily Trax on October 8th, 2008 7:43 pm

      Hookers are always more expensive on the West Coast.

    9. justmoma on October 8th, 2008 7:43 pm

      Gads, I don’t even have the gas money to drive past the St. Regis! or to get out of my city!

      Gee, thanks AIG and all of Wall Street plus the politicians that created all this!

      When a family has to decide between milk and gasoline… something is really wrong in the US!

    10. Maggie on October 8th, 2008 8:07 pm

      Tonight on the news they said Sarah Palin is Franklin D. Roosevelt’s 9th cousin and Princess Di’s 10th cousin according to

    11. Richard on October 8th, 2008 9:51 pm

      Hold on to your hats, folks … AIG is getting ANOTHER loan.

      This one for $37 billion, or maybe $38 billion. Not much difference, I guess.

      Just last week the company got $87 billion.

      You’ve got to love the way we do things here in America … hey, maybe I could have run the company into the ground and then gotten billions.

      Nah … guess I’m not qualified. Takes a real sharp mind to go broke … and then get loans for over $100 billion.

    12. Susy Q on October 9th, 2008 7:27 am

      That’s cool my friend in London is a geneologist and Sarah is also related to George Bush and ….Barack Obama ! ! ! ! and Henry II and Eleanor of Aquitaine ( the loving coulple in The Lion in Winter LOL) and Jesse and Frank James and Brad Pitt…and poor Marilyn Monroe.

    13. BUN on October 9th, 2008 7:43 am

      Richard…I am hearing what you say and agree…saw that same crapola on TV this morning…Is there anyway to throw out all the congress and senate and just start over? And by the way the gov’t is buying into banks, etc., so where are we headed as a country?????

    14. jody on October 9th, 2008 10:39 am

      Congress has at least as much to answer for. Here’s bailout video that’s a hoot:

    15. Maggie on October 9th, 2008 1:18 pm

      Richard I guess they did get the message though..AIG cancelled their other fun party for this weekend after seeing how outraged people are.

    16. txchic on October 9th, 2008 4:49 pm

      our own government is holding training seminars in luxury spots so i guess what’s good for the goose… i recall the irs holding one at caesar’s palace @ lake tahoe a few years back. talk about a waste of our $$$!

    17. Richard on October 9th, 2008 10:30 pm

      Hey, txchic … We have the best politicians that money can buy!

      (And buy them it does….)

    18. Connie Schneider on October 10th, 2008 8:52 am

      At one point in my daughter’s college career, she was considering journalism as a career. I am SO VERY GLAD she changed her mind. I am very proud of her and the choices she has made. It would be very hard for me to see her making a fool of herself as so many in the media do today!!

      I am really tired of hearing “almost accurate” reporting of today’s news. Anything that gives the most “bang for the buck” is fair game, even if it isn’t accurate!

      The recent AIG meeting was not for executives or even AIG employees, but for independent insurance adjusters. While it was certainly not “the thing to do” with regard to the financial crisis AIG is experiencing, this event had been planned for a very long time and the planned costs for the retreat could not have been recovered by the company.

      What everyone should be enraged about (and many employees are!) is the incredibly ridiculous and greedy and egotistical AIG executives and previous executives receiving astronomical salaries and bonuses while AIG employees are trying to save pennies a day conducting normal day-to-day business.

      Please stop your greedy, headline-grabbing “journalism?” and get your facts straight. I wish the American public would stop watching TV, listening to the radio, and reading news stories on the internet. It’s what I will do from now on!

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