Wednesday, October 8, 2008

Worst argument ever for a bailout

I very much believe that government action is needed to help stabilize our economy.  However, some of these bailouts, even if necessary, are hard to swallow.  According to this article, less than one week after AIG received an $85 billion bailout, the company spent almost half a million dollars to send a group of their executives to a Southern California resort.  In addition to paying for golf and catered buffets, AIG spent over $23,000 on spa treatments.  What do you suppose AIG spent money on before they ran their company into the ground?

If there are any AIG executives that read this blog, can you please leave a comment to let me know what you were thinking?  For the rest of you out there, what are your thoughts on reigning in corporate excess?

1 comment:

Anonymous said...

When will it end? There seems to be very little acceptance of personal responsibility when you are making millions. We've certainly had a wake-up call. Investing is getting scarier and scarier and it's tempting to hide a little hoard under the mattress. (I know, I know not a good idea.)