According to news articles
$ 400000 for AIG party? Paid by the taxpayers?
AIG Party Cost $440K ?
AIG bigshots party on taxpayers' dollars
Lawmakers revealed Tuesday that just days after the Sept. 16 federal bailout of AIG, executives and salespeople at the firm met at the lavish St. Regis Monarch Beach resort in Dana Point (Orange County), where the rooms can cost $1,000 a night. According to the invoices, the company spent $200,000 on rooms, more than $150,000 on meals, $23,000 in aig spa charges and $7,000 on golf.
Not only does AIG throw a $440,000 mega-party for it’s executives just one week after their bailout (paid for by you and me) but the Superintendent of the New York State Department of Insurance, Eric Dinallo, said that he sees somes value to the luxury retreat party at the St. Regis Resort & Spa. He actually stated that the retreat was a sound measure to ensure that it’s employees would not flee the company. WTF? They should all be glad they still have jobs and don’t have to shop around a resume showing that at their last job they helped underwrite AIG right into the ground. Who’d hire an AIG castoff? They admitted after the bailout that top executives hid a full range of risky financial products from auditors as their ship was sinking. The investigation continues. They still got their bailout though. What would any sane corporation do after being given $85 billion? Go to the St. Regis Resort, of course.
Less than two weeks after Uncle Sam gave American International Group (AIG) an $85 billion loan -- staving off financial collapse -- execs from one of its insurance subsidiaries, AIG American General, gathered for a conference at the uber-swank St. Regis Monarch Beach Resort, billed as 'California's only Mobil Travel Guide Five-Star Resort,' where ocean-view rooms start at $565 a night and 'world class luxury' is the rule. Caterers for the St. Regis were setting up dozens of tables on the grounds of Mission San Juan Capistrano for AIG American General's sumptuous off-site dinner. Tables were draped with soft Tuscan-gold tablecloths that cascaded to the grass; elegant fresh flower centerpiece graced each table; and what appeared to be fine crystal stemware, at least from a distance, glistened in the fading light. Workers set up a lengthy bar stocked with bottles of liquor. A half-dozen tall space heaters stood sentinel in case the evening turned cool. There was a large center stage with lighting and a sound system, and once the sun went down, the whole scene took on a magical patina as tiny white lights twinkled in the trees."
