(Context: This is the corporation that we, the taxpayers, bailed out by buying a just under 80% share of...)
As reported by ABC:
After Bailout, AIG Execs Head to California Resort
Rescued by Taxpayers, $440,000 for Retreat Including "Pedicures, Manicures"
By BRIAN ROSS and TOM SHINE
October 7, 2008—
Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today.
"Rooms at this resort can cost over $1,000 a night," Congressman Henry Waxman (D-CA) said this morning as his committee continued its investigation of Wall Street and its CEOs.
AIG documents obtained by Waxman's investigators show the company paid more than $440,000 for the retreat, including nearly $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.