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AIG Hearing

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Former executives of the insurance company AIG have come under fire recently as lawmakers criticize the lavish spending of the company's money. The money, which was spent on spa retreats and inflated contracts, was taken from a loan given to AIG from the Federal Reserve with the intention of keeping the firm operational.
VSiskos

19 responses // AIG Hearing

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    wow, that was a really heartfelt scripted reading, I even teared up a bit...$23,000 in spa charges? That is the last thing I would do with that much money

    achromatic
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    <http://www.cnn.com/2008/POLITICS/10/08/politicians.meltdown.aig.ap/index.html>

    In all, $440,000 was spent on the California spa retreat. This is symbolic of most Americans, who want to project that they still have "power" by spending money they don't have. People are still afraid of admitting that they are feeling the crunch.

    If these people won't learn how to be smarter with money after being bailed out of their debts, why are we saving their skins? Shame on us.

    islek
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    Image...

    Just keep throwing taxpayers future money around people!

    WorldPeaceTV
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    Tell me how I can get fired and still receive a million dollars a month?! Criminal charges could come from this. Just like Enron. I hope the enjoyed there 23,000 massages. They are not an option in prison.

    dside
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    wow that funny like i need more reasons to dislike wallstreet and ceo of majer compones like AIG. they go on spa trip will i'm working 2 jobs and going to school. if there going to get paid for losing money and going on fince trip then why are we paying to keep that compone alive wow....... so this is where my money go wow.........

    gizmoismeno
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    I wonder how this will effect Man Utd...possible jersey change coming?

    bonemachine
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    I call for castration! This is bullshit!

    punkerton
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    at least he is not accepting the $22 million in severance pay. this is the first step to keeping these dudes accountable. now we just need them to chip in with all their wealth to pay for their gambling. that how it works when you role the dice, either win or pay up.

    phillyphil
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    GlaringTruth
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    "Reconstructing plan?" My ass. Take the blame like a real man.

    Hollow_Eyes
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    Well every million helps, so thanks pasty white guy for giving up a few million, of course it's just a drop in the bucket and we all still hate you...

    KarlitoMosquito
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    The worst part is they were going to have another retreat at The Ritz until they got caught. Fool me once...

    Wilmingtonian
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    FTV: "..I am grateful to the Treasury, the Federal Reserve, and most importantly the American people..."

    Since when did I FUCKING SAY YOU COULD SPEND MY MONEY@!?

    natenate
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    And still they are chillin.

    jeffreyak
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    They'll have debts to pay in the world to come...If there is one. :) These guys are the paradigm of WHY I do not trust Wall Street executives to make rational, reasonable and ethical decisions. There time will come. Soon. Where are all the good people?

    JaetheFirst
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    This was all a show. Since this story has aired, the U.S. government has agreed to give AIG and additional $38 billion. It's good to know our lawmakers are listening to their constituents.

    phinphanphun
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    These are the same jack holes that took 80 MIL of the the bailout money and go on vacation.

    Bitches

    thenumbertoo
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    Remember when Reagan talked about the "welfare queen" i.e. that person who could work but was milking welfare payments while driving around in Cadillacs? Is there any difference between a "welfare queen" and what these morons are doing?

    Mark701

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