AIG gets another $37.8 billion from the government.....
By cynddvs
@cynddvs (2948)
United States
October 8, 2008 9:58pm CST
And this is after they just spent $440,000 on a lavish vacation for employees after receiving their first $84 billion from the government. You would think if their company was in such harsh conditions that they need a bailout from the government to survive they would cut spending everywhere they can. A paid vacation for their top performing agents doesn't exactly strike me as a necessity for the company.
And something tells me this won't be the first company that gets money from this bailout to pull a stunt like this. Argh!! This just makes me so sick! I would love to see all these executives responsible for wasteful spending fired and have to pay all that money back.
What do you all think about this fiasco?
2 people like this
6 responses
@whiteheather39 (24403)
• United States
14 Oct 08
To make it worse the day after the first $84 billion AIG asked for and received more money ($37.8 billion)and also said they had another junket planned for 50 AIG employees! However later on they said it would be cancelled. Can you believe the nerve???
American International Group scrapped a seaside conference at a California resort amid a barrage of criticism for spending $440,000 on a similar event days after getting an $85 billion U.S. government bailout.
AIG canceled the conference at the Ritz-Carlton in California's Half Moon Bay "after a re-evaluation of the costs under the new circumstances," said a spokesman, Joe Norton.
http://www.iht.com/articl...
1 person likes this
@KrauseHome (36448)
• United States
10 Oct 08
The main problem here, is that NO ONE is there to step in and Stop it, and most of the time, the people in Government never step in to Stop it as well. Most of the time, they tend to not notice and turn the other cheek, when in turn if they are serious in wanting to start seeing some changes and improvements in things, need to Step in before every other company out there, can think that this gives them an OK to do something like this as well.
1 person likes this
@Thoroughrob (11742)
• United States
9 Oct 08
That is crazy!! I am afraid that others will fall in their footsteps, if something like this happens and they don't even get punished.
1 person likes this
@whiteheather39 (24403)
• United States
9 Oct 08
I could not believe that the powers that be actually gave more money to this company. At least make them pay back the money they frittered away before they hand out some more.
1 person likes this
@mscott (1923)
• United States
9 Oct 08
I saw that story about the big party and I was disgusted. Not just at them but at the politicians who let it happen and keep giving them money. The politicians come out and say they should be ashamed and even punished but we all no they won't do anything about it. They will waste more of our money having a hearing to find out how crooked these people are but they will never do anything to these people and they will never get any of the money back. I guess if you have to look for a bright spot at least the AIG dumped 440 grand into that one local economy. 
