While AIG has been defending their recent vacation to the tune of $440,000 to a committee in the U.S., it was decided that the obvious course would be to give them even more money. Today, the day following the news of the controversial resort vacation for top-sellers, it was announced that the government will loan AIG a additional $38 billion dollars.
It is interesting to note that AIG has, over the years, made substantial financial contributions to both the Republican and Democratic parties, ensuring that both would be in their pockets. They made a good investment in this case, as it has really paid off.
The vacation is being defended on the premise that: “This is how we roll”, which is not doing much to appease the American people, and for good reason. Their desire to keep up impressions that all is “business as usual” is not convincing – the company is in trouble and they indulge in extravagances the rest of us can only dream of and will never experience first-hand.
14 responses so far ↓
Bryan // October 8, 2008 at 8:37 pm
WTF is this? Can the American Government really be this obtuse? They give money to people that simply blow it on luxury? This is like when they gave more money to welfare mothers for having more children. Will they ever learn?
Gen // October 8, 2008 at 10:04 pm
The question isn’t when will they learn. When will we learn and get rid of these people!
Danielle // October 8, 2008 at 10:09 pm
I don’t see AIG having the longest life span after this – hopefully consumers will have enough presence of mind to stay away from this ethically reprehensible company.
James // October 9, 2008 at 1:13 am
I think the financial meltdown begins with Bush.Lets face it he was an absolute failure in business and he’s an absolute failure in running this country. He has allowed top level CEO’s to squander their profits and he’s allowed illegal aliens to flood across the border and take out mortgages on homes that they default on he has made it most lucrative for manufacturers to take their plants and factories over seas and he and Chaney have kept the war machine going to enjoy the profits(later) from Halliburton’s successes in the oil feilds of Iraq.He has broken this country and what do we get? Higher prices onEVERYTHING, our sons and daughters getting shipped of to fight a senseless war and some getting shipped back in body bags, our dollar isn’t worth the paper it’s printed on.Bush and Chaney should be ashamed. I don’t see how they sleep at night knowing that they have totally wrecked our country and the worlds opinion of us.We should be ashamed for allowing them to screw us to tears.God help us
Danielle // October 9, 2008 at 1:21 am
The Bush family has a history of trying to further their personal economic agendas through an exercise of political power. Bush is a disgrace to his country, and I hope that with new leadership, whatever that may be, will try to set things right and have the interests of the American people at heart. It is shameful what is going on – these banks should be allowed to crumble because they are dinosaurs from a time before transparency and accountability.
Brian // October 9, 2008 at 10:21 am
I have no words for the anger I felt when I heard about the additional 38 billion on the news this morning. Why is the gov’t rewarding AIG for being scum? And on top of this, both the Senate and Congress are on vacation right now, and wont be back in session until after the election. This, too, is unacceptable. This country is in meltdown mode, and the Legislative Branch is on vacation….
Chad // October 9, 2008 at 5:34 pm
Hopefully, everyone who does have AIG as their insurance providers will see this and move to another provider. These people are clearly idiots when it comes to managing money and the sad thing is, is that the US government is just as stupid! AIG should already be out of business as it is, if everyone drops them and doesn’t use them….then they’ll have to go away…unless the Govt. decides to hand out more money….where the hell is our money???? We didn’t mess up-they did so why aren’t we rewarded?????
Bob // October 9, 2008 at 5:37 pm
Things like this make me wonder how long it will be until the American Government is overthrown?
This is ridiculous….AIG needs an additional 38 billion but it spends $440,000 on a get away?? GET REAL AIG…..it makes me want to say “FUCK YOU BUDDY!” to them.
Jacqueline Calderone // October 10, 2008 at 6:35 am
Accountability and responsibility for decisions is required by so many during this crisis. The first people to turn to should be the individual AIG executives who took this vacation. If I was in their position, I would hope that it would be impossible for me to enjoy a massage or golf during this time. I would hope that my thoughts would turn to some of the loans and mortgages that I persoally involved myself in and how that is causing not only “crisis” but people to lose their homes all over America. I would hope that some of the faces that I worked with would come into my head and cause to realize that a vacation is not what i need or deserve right now. I would hope that I would have enough conscience and sense of personal responsibility to refuse such a trip, and instead use the time to figure out what went wrong. To ask myself, “why is my job causing crisis and homelessness.” These executives should be busy looking at what they have done wrong, which loans were inappropriate and irresponsible. They should be working hard to correct what they have created. They should not be on vacation. First and foremost, their own conscience, family, and children should hold them accountable for what has happened. Second, the CEOs, their bosses should hold them accountable. Third, every American and American News should hold them accountable to demand from them reasons for this crisis and how to get out of it. Fourth, the American government should hold them accountable. I am a medical student from New York, and I want to understand. I want to understand what these executives are thinking and I want each and everyone of them to explain. I further want to challenge them to access the beautiful parts of being human and to gain the courage to take responsibility for their actions. I am not here to blame them. I am here to reflect to them how disturbing their actions are to the whole world. I am here to challenge them to reflect on their decisions and to what is right, compassionate, and honest. I still believe that they have it in them.
Paul // October 10, 2008 at 9:40 am
BUT when the watchdogs like Paulson and these CEO’s are just old frat brothers from college then there are no rules on free beer/champagne/golf money. I don’t care who voted for the bailout, I’m voting for their opponent on the next go around. Period. I don’t want them anymore. Politics is all a contest between Yale and Harvard. All of it. The only one’s who lose are us.
Danielle // October 10, 2008 at 10:24 am
Well said Jacqueline.
ben // October 10, 2008 at 2:40 pm
this is a disgrace,they just need to let them crumble
Danielle // October 10, 2008 at 11:04 pm
Indeed – Consumers need to take power into their own hands. Don’t do business with AIG, and don’t do business with companies that do business with AIG.
Companies need to be help to higher standards – and consumers have the power to teach them this valuable lesson.
Danielle // October 10, 2008 at 11:04 pm
And same goes for politicians and all others who find themselves in a position of power.