GOOFY GETAWAY; AIG RIPPED FOR SENSELESS SPENDING (What is Bush waiting for? Nail these SOB's, pronto

NY POST ^ | 10/10/08 | MARK DeCAMBRE and PAUL THARP

[Liz]

AIG blew $440,000 on a spa junket.....and spent tens of thousands a day on golf outings after collecting a huge US government bailout. The growing list of AIG waste surfaced as the Federal Reserve yesterday boosted its total tab for AIG's rescue to $122.5 billion, adding $37.8 billion to its original $85 billion three weeks ago. Following the $440,000 junket at California's St. Regis resort - AIG cancelled a $400-a-night Ritz-Carlton spa junket in California's Half Moon Bay. A third expensive junket slipped by public notice.......a golf and spa outing Sept. 28-30 at Mandalay Bay, Las Vegas came just two weeks after the Feds stepped in Sept. 17 to save AIG from imminent bankruptcy. The outing for 50 AIG reps was said to cost $500,000.......high-ranking insiders at AIG also pointed to its $100 million sponsorship of Britain's soccer club, Manchester United.......set up by CEO Martin Sullivan (fired for allowing AIG to pile up toxic investments). Sullivan, a British subject, "was preoccupied with soccer crowds and getting knighted," sources said.

[Liz]

The Federal Reserve yesterday boosted its total tab for AIG's rescue to $122.5 billion, adding $37.8 billion to its original $85 billion lifeline three weeks ago. The market will continue to crash until Bush goes to the Rose garden and announces he's unleasing rhe FBI, DOJ, state AG's and the entire justice apparat to nail AIG spa-goers, Raines and the Fannie Mae thieves, hedgers, Fuld.... all these guys that put personal greed over the well-being of stockholders and the US economy. Bush must announce people will go to jail for their massive crimes.......crimes they deliberately committed to satiate their unbridled greed.

With taxpayers money in their pockets---AIG honchos luxuriated with a $440,000 junket at this posh spa at California's St. Regis resort. Ever wonder how many sex acts US taxpayers paid for? Lookit that overstuffed AIG CEO Sullivan---guy's gotta be paying for it---no decent woman would volunatarily perform sex acts on this overfed pig.

[Jay Thomas]

WTF is wrong with these people???? Can drawing and quartering be brought back?

[tcostell]

I think it’s just hysterical that you think the president of the united states needs to personally do something about this.

[bmwcyle]

We gave them money so they can make their expensive campaign contributions next year.

[Doug TX]

President stay away.

Likely this trip was all paid for long time ago. It doesn’t make it right, but the story makes it seem that AIG got a bailout then when straight to party.

Companies piss off tons of money on extravagant ‘meetings’...like when they host members of congress.

[xcamel]

Because the entire story is a LIE...

[Virginia Ridgerunner]

Sullivan, a British subject, "was just too preoccupied with the soccer crowds and getting knighted," sources said.

This guy needs to go to jail. And just read a story a few minutes ago about Wachovia sending its "top performers" on an all-expense paid cruise to Greece.

Wachovia execs to cruise Greek Isles

[scooby321]

Hank Paulson

He appointed these people

Got some of his Goldman money back

[Virginia Ridgerunner]

Update: Wachovia got caught and suddenly cancelled the cruise...

Wachovia brokers Greek Isles cruise is off

"With uncertainty in the markets right now, financial advisers have told us that they prefer to remain close to their clients," Griffin said, "so Wachovia has made the decision to call off the trip."

[Virginia Ridgerunner]

WHY is this entire story a LIE, pray tell? Looks pretty damning to me.

[PSYCHO-FREEP]

This is why AIG is such a mess in the first place.

[Liz]

Sounds good to me——maybe throw in some of those medieval torture techniques.

Heads on stakes. Mmmmm....that sounds delightfully easy. And cheap-—taxpayers won’t have to foot a hefty bill.

[JLS]

It is like this person thinks AIG got money from the government and then put together a quick junket. This was surely planned long ago.

Maybe it should have been canceled. That is for someone else to say. But inertia is a powerful force in a big bureaucracy, even a private corporate big bureaucracy.

[xcamel]

Because it wasn’t “AIG Execs” - it was Independent agents who WON this trip over a year ago as a sales incentive. Once the incentive travel had been booked (like 3 years ago) it couldn’t be refunded.

[Virginia Ridgerunner]

Well, it’s certainly poor timing.

[Liz]

Heheh——you know, you got a pretty good point there.

Except that the president-—no matter how wimpish-—has the club of the bully pulpit to change public opinion.

We really need to change opinions if the market is to flourish.

[BallyBill]

I think Castro took over a small country using this rhetoric.

[Liz]

“Workers’ Paradise”-—that’ll do it for some people.

[rod1]

This on top of ManU raiding to get Berbatov to add to Ronaldo, Rooney and Teves...and having among the highest payrolls in soccerdom. Wonder if the taxpayers know they are funding a UK soccer giant.

[tcostell]

Personally I think the PR department should have cancelled it. But the money involved is totally irrelevant in the face of trillions in diminished economic activity and capital market levels.

I'm really hoping the President has a bigger fish or two to fry.