I’ll Take My 1/2cent, Thank You!

Posted on October 8th, 2008 by the lion

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AIG owes us some money.

According to invoices handed over to the House Oversight and Government Reform Committee by the exclusive St. Regis Resort, AIG executives spent $440,000 on spa treatments, food and golfing just days after the government bailed them out to the tune of $85billion.

Former AIG CEO, Robert Willumstad, who was fired the day after the bailout took effect, told the committee that he “was not familiar with the conference and would not have gone along.” He added later that, “it seems very inappropriate.”

Presidential hopeful, Senator Barack Obama stated in Tuesday night’s debate that “those executives should be fired.” and added that AIG should give the Treasury $440,000 to cover the costs.


AIG executives hid the full range of their risk from financial auditors during the past years. The financial committee is investigating the lead up to the bailout and has, so far, heavily criticized former executives.

“You have cost my constituents and the taxpayers of this country $85 billion and run into the ground one of the most respected insurance companies in the history of our country,” said Rep. Carolyn Maloney, D-New York. “You were just gambling billions, possibly trillions of dollars.”
I say screw the Treasury – give me back my $0.004!