(Untitled)

[cicipsychobunny]

This is Jack's complete lack of surprise.

After Bailout, AIG Execs Head to California Resort

Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional

Comments

[tediousandbrief]

And when I tell people that we need more government oversight of major corporations, people look at me like I'm some socalist commie pinko bastard... *sigh*

[scorpi084]

Yeah, but you MUST BE, to think that blind greed won't check itself.

[cicipsychobunny]

Yes, because that whole $440,000 totally represents the actual cost of labour and resources and is going straight back into the local economy, not the pockets of the already plenty well-off resort operators.

[wyldcard]

Okay, so, just to point out the obvious, $440,000 as a percentage of $85bn is 0.0005%.

While I don't agree with rampant spending like that, we're dealing with two completely different magnitudes here.

[cicipsychobunny]

Thanks, Captain Math. Just to point out the obvious, this is far less about exactly how much they spent on this junket and a lot more about how clearly it illustrates the kind of blind-greed culture and lack of critical self-awareness that got the international markets into this debacle in the first place.