Just days after American taxpayers forked over $85 billion to bail out the American International Group (AIG), the company sent executives on a $440,000 retreat complete with luxury spa treatments, golf, $200,000 worth of lavish hotel rooms and $150,000 in meals.
Congress was fuming as they grilled former AIG CEO’s during their testimony.
“Average Americans are suffering economically. They’re losing their jobs, their homes and their health insurance,” Congressman Henry Waxman (D-California) said during a House Oversight Committee hearing Tuesday to investigate the AIG meltdown.
“Less than one week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation.”
During Tuesday night’s presidential debate, Senator Barack Obama brought up the retreat and called for the executives to be fired and for AIG to pay back the U.S. Treasury the $440,000 cost of the extravagance.
You can thank the “lazzei faire” attitude of the Bush administration for encouraging “no accountability” with corporations in this country.