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Now that's just ridiculous.
aig,spa,resort,bailout AIG Execs Spent 430000 Dollars at a Spa Resort After Bailout
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AIG Execs Spent 430000 Dollars At A Spa Resort After Bailout Related Videos
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Now that is why we should let the free market work. Let them fail. No bailouts. The market will recover, and when it does.. it will be better for it.
Outrage does not begin to describe my feelings about this. Hear hear Rep. Cummings.
EDIT: Then again, I suppose this has been happening for 5+ years in Iraq. Just add it to the rage pile, I guess.
I suspect that AIG will pay this debt back a lot more quickly than you think.
Fed gives $37.8 billion loan to AIG - The insurance giant receives an additional loan after the government saved it from bankruptcy.
CNN
All I want is these guys' home addresses and where their family live. That's all any honest tax payer can ask for right now...
This is what happens when a people worship capitalism and greed as a form of freedom.
You call government hand outs capitalism? Someone get this man a economics book.
I hate it when that happens.
That's what the representative should have said.
If $85 billion bought us 80% of the company, does the additional $37.8 Billion mean that we own them outright?
>> ^rougy:
Go back to sleep, Deedub.
Fed gives $37.8 billion loan to AIG - The insurance giant receives an additional loan after the government saved it from bankruptcy.
CNN
as long as that spa was in the United States they where just trying to pass forward the money they got to other Americans. See the way the economy works is you need currency to circulate that means spending money on goods and services. AIG was just trying to keep the economy rolling.
That's the broken window fallacy.
The money would be better spent in the hands of those who really need it.
>> ^Mi1ler:
as long as that spa was in the United States they where just trying to pass forward the money they got to other Americans. See the way the economy works is you need currency to circulate that means spending money on goods and services. AIG was just trying to keep the economy rolling.
That's the broken window fallacy.
The money would be better spent in the hands of those who really need it.
More over, congress never addressed the real issue of compaines like AIG insuring beyond their means to live up to their commitments. The more I read up on the finacial sector, the more I realize it is a house of cards.
what do these banking guys have to do to get fired? rape the first lady on TV?
You know what I hate. I hate it when the government spends $85 billion to bail out your company right before you planned to go on vacation on the company's dime. And you think "Well maybe I shouldn't go" but then you think "Damn. With this bailout and stuff I'm super stressed. I need it now more than ever. I'm going." And as soon as you get back some congressman goes "WTF!!!" and throws it in your face during some committee hearing.
I hate it when that happens.
You totally know that's what someone had to have bene thinking for real, too.
430k, divided by 7 days, no let's make it 6 days, divided by 50 people, leads to $1433 a head per night. Nice. Assuming each room is roughly 433, 1000 goes to ... oh wait, breakdown at 3 minutes in.
"Leisure dining" = bars. Nice. Which means horrible.
>> ^jwray:
>> ^Mi1ler:
as long as that spa was in the United States they where just trying to pass forward the money they got to other Americans. See the way the economy works is you need currency to circulate that means spending money on goods and services. AIG was just trying to keep the economy rolling.
That's the broken window fallacy.
The money would be better spent in the hands of those who really need it.
I'm pretty sure that was meant as a joke...
>> ^GeeSussFreeK:
>> ^jwray:
>> ^Mi1ler:
[snip]
More over, congress never addressed the real issue of compaines like AIG insuring beyond their means to live up to their commitments. The more I read up on the finacial sector, the more I realize it is a house of cards.
YES!
That's the most "TERRIBLE" part of this whole thing. They're going after the dog-and-pony half million dollar show when there's BILLIONS of dollars - close to a TRILLION or more actually - at stake which were caused by these self-same senators and congressmen and regulators LETTING these companies get themselves into this position in the first place.
"I agree with that - there are regrettable headlines in that"
Which means
"Oh yeah, I agree dude, it looked outrageous"
No fucker. It IS outrageous.
Don't you worry your pretty little head, the US Gov't is charging AIG a very high interest rate. I don't think that AIG execs should be spending this money right now, but this will be a very lucrative deal for the American tax payer.
I suspect that AIG will pay this debt back a lot more quickly than you think.
Ummm, for one that assumes that it will be payed back. No guarantees, especially now. Secondly, whether it's good for the US people or not because they're getting a high interest rate doesn't mean that the money should be spent on shit like this. If I were a shareholder in the company (US citizen or just regualr Joe shareholder) I'd still be pissed off at this type of expense when the company is in the shape it is.
There really is no justification for it. Even if it's already booked and paid for before the shit hit the fan, you cancel because you've got some sense of honour/shame or whatever the right word is.
When you're hanging on by your fingernails, you don't go waving your arms...
This is what happens when a people worship capitalism and greed as a form of freedom.
Epic fail at attributing the problem.
Central price fixing interest rates = socialist
Bailout out bankruptcy with forcibly appropriated money = socialist
Allowing one industry to loan out money they don't have, at interest = socialist
Subsidizing one company and not another = socialist
Taxing one company and not another = socialist
Nationalizing private industry to be financed with forcibly appropriated money = socialist
Directing industry and research with forcibly appropriated money = socialist
Declaring lending standards discriminatory to low income people and forcing banks to remove them via the Community Reinvestment Act = socialist
Issuing a non-market determined or constitutional money, banning competing currencies, and taxing dollar debasement gains on gold as if it were income = socialist
Blocking nuclear power for 30 years = socialist
Blocking domestic oil drilling for 20 years = socialist
The Democratic and Republican parties = full of socialists
We had to Nationalize the banking system to prevent global economic collapse.
Yet, like a dog to it's vomit, the laissez-faire free market trickle downers continue to embrace their failed philosophy.