Less than a week after the federal government offered an $85 billion bailout to insurance giant AIG, the company held a week-long retreat for its executives at the luxury St. Regis Resort in Monarch Beach, Calif., running up a tab of $440,000, Rep. Henry Waxman (D-Calif.) said today at the the opening of a House committee hearing about the near-failure of the insurance giant.
Showing a photograph of the resort, Waxman said the executives spent $200,000 for rooms, $150,000 for meals and $23,000 for the spa.
"Less than a week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation," Waxman said. "We will ask whether any of this makes sense."
I Hope when I'm unable to pay my bills one day that someone bails me out so I can take a vacation!!! I think that's crazy how everything can get so fucked up and they don't even care that so many students are not getting loans for school, and elementary school's are being shut down amongst a million other things and that much money goes towards them and they spending what could be a scholarship for school on a Resort...Hmmm that's nice! --Yummie