Thursday, October 09, 2008

$85 billion for tanked AIG? Let's blow some on a Pah-tay!

But only $440,000.00. Times are tough, ya know.

AIG sent its executives to the coastal St. Regis resort south of Los Angeles even as the company tapped into an $85 billion loan from the government it needed to stave off bankruptcy. The resort tab included $23,380 worth of spa treatments for AIG employees, according to invoices the resort turned over to the House Oversight and Government Reform Committee.

The retreat didn't include anyone from the financial products division that nearly drove AIG under, but lawmakers still were enraged over thousands of dollars spent on outing for executives of AIG's main U.S. life insurance subsidiary.

Enraged? Uh, oh. That's code for interminably impotent congressional hearings.

Update: AIG's part duex has been canceled. Look! Here's a red hand.

But Wachovia (who never underwrote a high risk, uninsured junk loan it didn't like) refuses to be outdone. Oink! Oink!! OINK!!!

My... wallet hurts.
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