AIG blows $440,000 after getting bailout?!?!

[AlexTina]

What the heck is going on here? Is there no one monitoring the operations of these companies now? or did they just hand them the money and hope they'll do the right thing?? I am amazed!

http://www.foxbusiness.com/story/markets/industries/finance/aig-executives-blow--getting-bailout/

 

[mom2boys77]

That is just insane

 

[Brianne]

O.M.G.

That is absolutely disgusting.

 

[NotUrsula]

It seems that the subsidiary of AIG that threw the party is not the one that got the Federal bailout. It is a really big company with a lot of independent operating units, and this one in particular is perfectly solvent and did not use any federal money for this shindig. (Now why the solvent units could not have helped bail out the insolvent ones is another question, presumably for another day. I haven't a clue as to the answer to that.)

HOWEVER, that said, the CEO of the parent company is a IDIOT for not issuing an immediate fiat against conspicuous consumption in all divisions of the company. This looks *really* bad from a PR POV and has attracted the attention of congressional muckrakers. Bad news all around for what's left of AIG.

 

[NVDisMom]

Unreal. While the PP may be correct in the assessment that this was by a solvent arm of AIG, the entire company should be watched for wasteful spending. AIG as a whole should be under incredible scrutiny...consider it the cost of US taxpayers lening a helping hand. That nagging question does BEG to be asked though. If there are parts of AIG that are solvent enough to use their funds in this way then why, oh why, did we bail their a$$e$ out!?

 

[AndyLL]

Better then Lehmans who was paying execitive bonuses to the tune of 23 Million in their last few weeks.

 

[DISUNC]

Every one of those Execs SHOULD BE Fired immeadiately..with NO compensation whatsoever, and the CEO should be thrown into Jail...TONIGHT!


Unnnnnnnnnnnnbelievable!

 

[OceanAnnie]

It seems that the subsidiary of AIG that threw the party is not the one that got the Federal bailout. It is a really big company with a lot of independent operating units, and this one in particular is perfectly solvent and did not use any federal money for this shindig. (Now why the solvent units could not have helped bail out the insolvent ones is another question, presumably for another day. I haven't a clue as to the answer to that.)

HOWEVER, that said, the CEO of the parent company is a IDIOT for not issuing an immediate fiat against conspicuous consumption in all divisions of the company. This looks *really* bad from a PR POV and has attracted the attention of congressional muckrakers. Bad news all around for what's left of AIG.

Well, if that's the case charity begins at home. I agree with the above why didn't they help themselves? AIG as an umbrella organization has money to burn. Who wants to bail them out now?

Yeah. That was out of the ball park stupid.

 

[Alaska DogCat]

Wasn't one of the problems of state owned industries under communism that the state owned companies could lavish money and excess on its officers while the people who paid for the state owned companies stood in line for bread? We used to condemn such practices and point to our free market as the basis of an exceptional nation.

So, when we gave up capitalism through government 'bail outs', we put ourselves in the bread lines watching the elite lavish themselves with our money.