Here Is Where Your Income Tax Bailout Money For AIG Is Going To
October 7, 2008 by Capt. Karl
The Liberty Tree Lantern thought that you might like to know where your future increased income taxes have gone to. You know the money that the U.S. Congress has allowed to be taken from your pockets and given to AIG.. You know the $85 BILLION you will be forced to pay out. Well it makes for one hell-of-a party, but at least they left us holding the bag. Isn’t that special?
How about if the U.S. Congress gives us a little party money too? Wa-hoooo! Take another Trillion from us taxpayers too! Now, who is Congress representing when they take our money away from us and give it for these playboys to go and have a hoot? Why are we letting them, the U.S. Congress, get away with all these outrageous so-called bailouts?
This ol’Capt. heard scuttlebutt that good’ol Cal-A-forn-nia, code for fornication of our Country and us taxpayers, is also looking for some bailout money now. Can you blame them? Would you want to be out partied by a bunch of AIG exec’s, if you had a reputation like California to maintain? Pass it around man! Hey, man, don’t stop passing it around now, Congresswoman Nancy Pelosi, like I’m just starting to get a buzz, man!
People how long are you going to take this robbery of your future earnings and the insult to our intelligence by both Houses of Congress? They’ve got to be smok’n and tok’n some of the Pelosi grass man; you know, the good stuff.
Tuesday, October 07, 2008
AIG Executives Blow $440,000 After Getting Bailout
If you’d just gotten a government bailout, you might be tempted to hold a retreat at a nice California hotel — and that’s exactly what American International Group (AIG: 3.51, -0.36, -9.30%) executives did.
The committee on Oversight and Government Reform held a hearing on Tuesday at 10:00 a.m. Eastern time. to address and examine downfall of AIG, the world’s largest insurance company. The committee planned to discuss the financial excesses and regulatory mistakes that led to AIG’s government bailout.
One of the items discussed was AIG’s expenditure of $440,000 for a corporate retreat at the St. Regis Monarch Beach resort in Los Angeles, Calif. These funds were spent on Sept. 22, a week after the Federal Reserve extended an $85 billion emergency loan to AIG to keep it from going bankrupt due to insurance liabilities.
Click here to see the full hotel bill
According to the receipt from the St. Regis, the eight-day company retreat was a lavish one – $139,000 was spent on hotel rooms, while even more money — $147,301 — was spent on banquets. Another $23,380 was spent on undisclosed spa treatments and another $6,939 was spent on golf. A full $9,980 was spent on room service and food and cocktails at the hotel lounge.
The St. Regis Monarch Beach resort is described on its Web site as “a landmark resort of legendary proportions.”
Legendary, indeed.
[...] Original captkarl [...]
But then, they know how to manipulate and use to their advantage. It is obvious the only people they care about is themselves.
A short time ago, our Chairman and CEO Ed Liddy said that he has ordered the immediate cancellation of all outside meetings, conferences, and recognition events across AIG, except those that are required by law or that are deemed absolutely critical to sustain our ongoing business needs.
Given AIG’s commitment to our customers, business partners, regulators, and American taxpayers, coupled with the new and very different challenges our company now faces, we take these responsibilities extremely seriously. Their trust is critical to our success. We recognize the need to be sensitive about all company expenditures.
As we move forward, we will continue our focus our efforts to pay back the $85 billion loan from the Federal Reserve Bank of New York as quickly as possible.