Lets take a moment and pretend I have not been railing against the Wall Street bailout by congress. Lets forget that there was an additional $150 BILLION added to the bill as Pork Sweeteners. Let us take a look at one company in particular that has taken federal monies to help it stay solvent. Lets look at AIG(1) .
According to news reports, AIG has already taken $85 billion from the Fed(2)(3) and then sent its staff to a California Spa(4) spending over $400k(5) . We can look past that as an oops, right?
According to the New York Daily News(6) , AIG sent four top executives and several others on a $86,000 partridge hunt at an English manor. This trip coincided with AIG’s 2nd pot full of cash from the Fed to the tune of $37.5 billion. According to AIG -
AIG spokesman Joe Norton confirmed Tuesday the hunt happened. He said “it was planned months (ago),” though he admitted it should have been cancelled.
“AIG’s priority is to continue to focus on maximizing the value of the business so we can repay the federal reserve loan.”
And, according to FoxNews, AIG told them -
Company officials said the hunting trip in the English countryside was an annual event for customers that had been planned months before the bailout. The company pledged — as it did following the September trip — to do everything possible to end such extravagances. They declined to say which AIG executives attended.
“This was an annual event for customers of the AIG property casualty insurance companies in the U.K. and Europe, and planned months before the Federal Reserve Bank of New York’s loan to AIG,” company spokesman Peter Tulupman said Wednesday morning.
According to the Daily News -
In interviews with undercover reporters, the AIG honchos said they were aware that the markets were crashing back in New York – but were more interested in bagging birds.
Once more the American People come to rescue a poor defenseless company… and get screwed. AIG’s take so far from the Federal Teet of never ending money? $122.5 Billion.
Isn’t it time to end this party? Check please!
Start Footnotes
- American International Group. [↩]
- Federal Reserve Bank of New York. [↩]
- Source: FoxNews. [↩]
- St. Regis Spa & Resort at Monarch Beach [↩]
- Source: Ask.com article. [↩]
- See article here. [↩]
End Footnotes.
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“Keep on keeping on” AIG moto
Well said. Keep running you wild pig.