AIG Execs Held Luxury Vacation Days After $85B Taxpayer Bailout
On Capitol Hill, the House Oversight Committee continued hearings into the financial crisis with testimony from executives of the trouble mortgage giant AIG. Investigators revealed AIG executives held a week-long retreat at a luxury resort just days after receiving an $85 billion taxpayer bailout last month. The $440,000 vacation included $200,000 for rooms, $150,000 for meals and $23,000 in spa charges. Democratic Congress member Elijah Cummings of Maryland took issue with the timing of the retreat.
Rep. Elijah Cummings: “We contacted the resort where AIG held this week-long event, and we requested copies of AIG’s bills. We learned that AIG spent nearly half-a-million dollars in a single week at the—at this hotel. Now, this was right after the bailout.”
AIG has already used up $61 billion of its $85 billion government loan.
– from Democracy Now
Its free money. Let them enjoy their double lottery.
Poor American citizens.
Recently, there has been a good deal of litigation by the
FTC against bloggers and website owners
for not revealing their advertising income, or existing
relationships with advertising agencies.
What are your thoughts concerning how this could potentially hurt
the blog community?