Oct 8, 2008

AIG - POST BAILOUT Spending Excesses

Now comes news that executives at the government funded, taxpayer supported American Insurance Group (AIG) have managed to treat themselves to close to half million ($440, 000) dollars of spa treatments in a California resort.

This has happened a WEEK after the $85 billion bailout. AIG stock has taken a beating (and crashed) and then bounced back, but actions like these are not good for any left-over shareholders or the taxpayer or anyone holding insurance with AIG.

Fox Business also has put up the copy of the bill (a scanned copy as a pdf file) here.
The news article says that the executives who were at the resort were from the profitable divisions of AIG, but still...

Hello, who is the CEO now, Henry Paulson/president Bush, Neel Kashkari.. who is it?
Or is it you, john/jane doe taxpayer?

The link to the fox article: http://www.foxnews.com/story/0,2933,434223,00.html
I am neither long nor short on AIG common stock or any derivatives.
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