AIG Execs Need a Different Kind of Retreat
When a company is in trouble and requires the Federal Government to bail them out, maybe the fluff should be the first to go. Executives of companies bailed out by the feds, and ultimately the taxpayers, should be living under a microscope.
Days after AIG received $85 billion from the Federal Reserve, AIG spent $440,000 entertaining executives. Now, they’ve paid $86,000 for a hunting trip in England just after they recieved another $37.8 billion in taxpayer funded loans. According to AIG execs, though, these trips were already planned months before any bailout or loans and therefore were necessary and allowable.
Big Deal. How many families have had to put their vacations on hold just to make the mortgage payment, put gas in the car and food on the table? How many of these families have seen the main breadwinner suddenly unemployed. I’m sure the mortgage company didn’t say “Go ahead and take your vacation. By the way, here’s a loan to help you fuel your car and buy groceries, use it in Hawaii. Pay it back when and if you can.”
This is just another example of how these huge companies are laughing at Main Street America.
Maybe a different kind of retreat is in order. I’m thinking a bit of time as guests of the federal or New York penal systems may help out. I understand they have an excellent fitness program as well as massages (if you find the right roommate).
An interesting Fox News article can be read at Fox News.