Jaded Times

So it turns out that AIG, one of the biggest names in the economic brat pack and one of the first to receive large government bailouts (to the tune of $85B), have thrown a close to half million dollar party for executives of one of their subsidiaries at the St. Regis Resort on the pacific coast.  According to the Chicago Tribune article, the $440,000 event included golf, several banquets, a spa, and four-digit per night suites for the execs.

To add insult to injury, the company has kept on Joe Cassano as a consultant since his termination on Feb 29th for his role in leading to the company’s eventual downfall.  Cassano has brought in $1M per month as a consultant and has already deposited his $34M severance check months ago.

The scariest bit?

The company has already used at least $61 billion of the $85 billion loan, and the Federal Reserve announced Wednesday that it has engineered even more help for the company.

No joke in this post.  This is seriously fucked up, and these people are the incompetent business “leaders” who have led us to the crisis we are in and whom we’ve had to pay to bail out, whose mistakes were a substantial portion of the initiation of our current economic crisis, and who are now spending money given to them to try to save our economy on booze, rooms, and rehiring people that got them into the mess in the first place.  I don’t think it is a stretch to say they should be on trial for treason.  I urge anyone who does business with AIG to find another company to cover them, and anyone with stock in the company to sell now.  I also urge you to write your congressmen and let them know how you feel about this, as the government now owns 80% of the company (in theory) and should be involving itself in the company’s daily runnings.