Please go check out this article: Lawmakers steamed over ritzy AIG retreat after bailout
I'll basically sum it up for you. Just mere DAYS after the government spent $85 billion dollars to bail out AIG, the company spent $440,000 for a "retreat" for it's executives. Golf... spa... banquets... posh rooms... Get that.. $440,000.
Now - even MORE crazy than that, is THIS guy:
But Eric Dinallo, superintendent of the New York State Insurance Department, said he could see the value of such a retreat under the circumstances.
"Having been at large global companies and knowing what condition AIG was in ... the absolute worst thing that could have happened" would have been for employees and underwriters in its life insurance subsidiary to flee the company.
"I do agree there is some profligate spending there, but the concept of bringing all the major employees together ... to ensure that the $85 billion could be as greatly as possible paid back would have been not a crazy corporate decision," Dinallo told the House committee.
EXCUSE ME??? Ok, I can see circling the wagons and figuring out how to manage this, but maybe this would have been a good time to put all the executives in a log cabin with no electricity and an outhouse. There was NO NEED for golfing and spaing (is that a word) and the like.
THIS is exactly why people were (and are) freaking out about the bailout. Because companies are so entirely out-of-touch with reality that there's a fear more will show this tremendous amount of stupidity. If my hard-earned tax money is going to refund the pension of some guy who worked in the mailroom of a bank for 40 years, I'm all for it. If my hard-earned tax money is going for a $350 a plate luncheon for mucky mucks to discuss their golden parachutes, then someone better make sure not to give me any sharp objects and the address of their corporate offices.
Ok... I'm done now... for now....
Actually - I know I'm not because I have another post dwelling within me but... I'll get to that later.
PS - Obama said that AIG should have to pay $440,000.00 back to the government. I agree.
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22 comments:
I guess a meeting in a big room would not suffice???
Thanks for stopping by on your layover. Come back and visit anytime!
This burned me up. To think that we're all losing our shirts and they're getting massages.
Amen! OH and I am so glad about your house! Yippee
It is sickening!! I don't have any other words to say about this...I just can't believe the waste!
Amen!
it makes me ill!
When was the last time the government bought me a massage? Oh, that's right. NEVER.
Congrats on being homeless!! :)
You got that right, Lizzy!!! I read about this yesterday and I'm glad Obama brought it up last night. The more the Americans hear about this crap the better.
Also, I read yesterday on one of the political blogs that these types of companies will be asking our govt for another bailout soon....about a trillion dollars. I don't even know how many zeros that is.......We should say NO...Hell to the no.....let them fail next time...
That is exactly what I said...they should have to pay that back! It's ridiculous and makes me so MAD!
I don't pay any attention to all that! It hurts my brain!
Thanks for visiting through BATW. I have seen and heard about you. You are as great as they say!! I will have to come back more often!
I dunno what to think about all these stupid crap going on in our economy. Besides the failed bail out came the buyout of Wachovia in Charlotte which threw panic to all Charlotteans! Then of course, there's the rising cost of gas- argh! VOTE FOR LIZZY!!!
How does the government allow this??? I just don't get it.
I say we give them pup tents in the parking lot of the local Motel 6, the entitled twits.
Oy .. after reading this to my hubs, he understands why I was walking around the kitchen, flapping my arms and ranting about this stupid bailout in the first place.
I so agree, why not one of their very large, very plush board rooms. Heck catering it would have been cheaper. I get tired of the media trying to scare us while the executives are just destressing? Congrats on your home. Stephanie
I got a award for you -- Come pick it up!
Much Love
Anissa
The whole thing disgusts me and you can't even get help with the food stamps!!!! What gives??? Congrats on the house - I am so happy you are out from under that.
DID YOU SEE/HEAR?! They're asking for MORE money now!!!!
ARGH!
ummm...WHO are the "major employees?" And how did they get there?
WHY was this a good idea?
"there is some profligate spending there, but the concept of bringing all the major employees together ... to ensure that the $85 billion could be as greatly as possible paid back would have been not a crazy corporate decision," Dinallo told the House committee."
Please tell me one word in that comment made sense. do.not.understand.
My blood has been boiling ever since I learned this news! OFF WITH THEIR HEADS I SAY. HOW BOUT PAYING THAT MONEY BACK WITH INTEREST?! And what the Hell kind of nerve do these companies have coming back and asking for MORE MORE MORE PLEASE. I'm once again SICKENED!
Speachless.
I was SO STEAMED when I read that. Steamed.
Don't get me started on that bailout. And I found one thing that Obama and I agree on.
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