|
U.S. PIRG Consumer Blog
« Waxman turns up the heat on meltdown leaders |
Main
| Pfizer "manipulated studies" of drug Neurontin »
October 07, 2008
Bailed-out AIG executives hit the links at swank Pacific resort, leave taxpayers home
 At his House Oversight and Government Reform Committee hearing today on the collapse of insurance mega-giant AIG, Chairman Henry Waxman disclosed that AIG executives decided to splurge nearly half a million bucks on golf one week after accepting an unprecedented $85 Billion federal bailout. The firm's top executives loaded up their golf clubs and tennis rackets and sojourned out to the luxurious St. Regis Monarch Beach resort in California. From Chairman Waxman's opening statement:
The federal bailout occurred on September 16. Less than one week later, AIG held a week-long retreat for company executives at the exclusive St. Regis Resort in Monarch Beach, California. A photograph of the resort is on display. Rooms at this resort can cost over $1,000 per night. Invoices provided to the Committee show that AIG paid the resort over $440,000, including nearly $200,000 for rooms, over $150,000 for meals, and $23,000 in spa charges.
According to the resort's website: Situated high on a bluff overlooking the majestic Pacific Ocean, stands a landmark resort of legendary proportions. Located midway between Los Angeles and San Diego, the Tuscan-inspired St. Regis Resort, Monarch Beach is devoted to the pursuit of service and elegance with a seamless blend of comfort and technology. So, why didn't they bring the taxpayers? What's our compensation? Washington Post web story After Bailout, AIG Executives Head to Resort by Peter Whoriskey.
Posted by Ed Mierzwinski at October 7, 2008 03:46 PM
Post a comment
|
