October 2nd 2008
AIG Enjoyed A Big Party After Bailout
Just after AIG got an $85 billion loan from Uncle Sam to stave off its collapse – at tax payer expense – the folks at AIG American General, an AIG subsidiary, were hard at work … uh, party … here in OC. Reports the OC Register’s Watchdog blog:
Less than two weeks after Uncle Sam gave American International Group (AIG) an $85 billion loan – staving off financial collapse – execs from one of its insurance subsidiaries, AIG American General, gathered for a conference at the uber-swank St. Regis Monarch Beach Resort, billed as “California’s only Mobil Travel Guide Five-Star Resort,” where ocean-view rooms start at $565 a night and “world class luxury” is the rule.
On Friday, before the presidential debate got under way, caterers for the St. Regis were setting up dozens of tables on the grounds of Mission San Juan Capistrano for AIG American General’s sumptuous off-site dinner.
Tables were draped with soft Tuscan-gold tablecloths that cascaded to the grass; elegant fresh flower centerpiece graced each table; and what appeared to be fine crystal stemware, at least from a distance, glistened in the fading light.
Workers set up a lengthy bar stocked with bottles of liquor. A half-dozen tall space heaters stood sentinel in case the evening turned cool. There was a large center stage with lighting and a sound system, and once the sun went down, the whole scene took on a magical patina as tiny white lights twinkled in the trees.
And we wonder why Americans aren’t too hot to bail out the caviar-chomping, scotch-swilling set? Not that some part-time pipe-fitter who lied about his income to get a taxpayer-subsidized low interest loan deserves a whit more sympathy than the AIG folks enjoying the best of the California Riviera lifestyle.
None deserves a penny. But this isn’t about who deserves what, it’s about keeping the economy alive. Keep telling yourselves that. Don’t even think about retribution or just desserts deserts. (Thanks Francis.)
Gee, I wonder what kind of desserts they served the AIG guys at the Mission … were they just, or just extravagant?
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November 15th, 2008 at 11:41 am
January 25th, 2009 at 12:28 pm
Comments
October 2nd, 2008 at 2:03 pm
“Don’t even think about retribution or just desserts.”It’s “just <b><i>deserts,</i></b>” Laer. As in what you <b><i>deserve.</i></b> Don’t get people thinking “what comes after ‘just dinner.’”
October 13th, 2008 at 4:13 pm
How many were their they should be held accountable. the bill is not itemized usually a Price tag of that figure should certainly have at least in no more a head count?