Tuesday, October 7, 2008

Just the cost of doing business

Washington provides an $85 billion bail-out to AIG, and what does AIG do? According to the Washington Post, AIG executives turn around and throw themselves a week-long $440,000 retreat. Included in the tab, $23,000 for spa treatments. I guess that those multi-million dollar salaries that the executives were already paying themselves weren't generous enough.

2 comments:

Brenda Bowers said...

Do I laugh or cry? Our nation is falling fast towards banana republic status and the rich play. But then of course that is the social system in banana republics where the only two classes are the very rich and the very poor.

This tho is still the beginning of the fall so it has overtones of Nero fiddling while Rome burned.

Dave Ribar said...

Brenda:

It's a jaw-dropping display of greed, insensitivity, and perceived entitlement.

Like the banana republics that you describe, it's also terribly corrupt -- take what you can while you can.