So the AIG story continues.
Yesterday we learned about the $440K spending orgy held at the St. Regis Monarch Beach last week.
We learned that executives from AIG, still employed only by the grace of the US taxpayers, had the balls to rack up $24,000 in spa service, $140K on rooms, $150K on food, $5K for drinks and $7K for golf.
Oh yeah did I mention they gave less than $3K in gratuities, so on top of it all, they’re lousy tippers.
Of course this all took place after they just got a $88 Billion dollar loan bailout from the Government the previous week.
So what happend today after the news broke?
Anyone threatened with criminal charges?
No.
Department of Justice announce they are investigating?
No.
Anyone fired?
No.
Instead today we found out that AIG already pulled the full $88 Billion line of credit the US gave them 2 weeks ago.
Yes the Money is gone.
AIG needed all $88 Billion already, and now hold on your hats boys and girls;
The Federal Reserve Announced today that is was loaning AIG ANOTHER $38 Billion.
Let me say it again.
Today after the last week stock meltdown and the day after the spending orgy came to light, the Fed is loaning AIG another $38 billion after they have blown through the first $88 billion.
WOW
Better yet this $38 billion is not coming from the $700 billion ($840 billion with added pork) bailout bill from last week.
No this is fresh money, in addition to the $88 Billion, in addition to the $700 Billion, in addition to the Freddy and Fannie money (estimated to be anywhere from $25 Billion to $100 Billion).
WOW
With bailouts like that….. who needs to do business?
Bailout = A Golden parachute, Massage, Drinks, Prostitution and one hell of a party with no repercussions.
Wow is right. It makes me sick really
*
No wonder Americans are getting so cynical.
IMO, these CEO’s ought to be in jail.
*
You’ve forgotten the additional $25 billion bailout for the Big Three auto makers.
It’s simple – if your company is financially prudent – you’re on your own. If you’re financially reckless, no problem, there are billions of dollars of taxapayers’ money to help you.
The message has been clear for a long time, but no one seems to get it: government intervention undermines personal responsibility and economic success.
Yet, both Presidential candidates promise more government intervention. Fun times ahead!
Don’t forget about the $152 Billion Dollar “Stimulus Package” that went out and Maybe a 2nd to come.
Call me cynical, but I am not that surprised.
Truly unbelievable.
The writing is on the wall folks. Bet against the dollar, buy foreign currency. The question is which country? It would have to be a country that doesn’t import/export too much with the US.
The treasury has been quietly shoring up the dollar these past few months, and it will continue to do so. At some point it will be forced to stop dumping taxpayer cash into the forex market and the buck will bomb with reckless abandon.
University qualifications mean nothing if the person does not have common sense (not so common these days).
Leaders suppose to be people of principals, positive vision and Integrity.
American taxpayer has to foot the bail out bill of the financial institutions that are going bust and the so called Executive Manager (mismanagers) are treating themselves to luxury – their reward for bringing the Company down.
That is called Democracy – the one that sets the rules can do what he wants but others bellow have to follow the rules – Dictatorship Democracy Style – welcome to the 4th Reich
What do you expect? They never behaved so why change now? It takes a strong personality to keep one’s mind clear with these amounts of money.
BullShit Politicians and
Bad karma To You.com
bad karma politicans
Mike,
Its an incredible outrage. US voters can do something though besides aimlessly flailing on comment boards. US voters should email and call their congress person and express their outrage on this issue. Those US citizens should be registered voters. If they are not, their comments are meaningless–yes, registered voter comments are tracked by the congress person’s office. A contributing registered voter’s words count for even more. Citizen outrage stopped the first House bailout bill. Its powerful. Bottom line: Focus your outrage on the people who work for the US citizens.