Applied Rationality focuses on public policy issues and tries to take a liberal perspective that is consistent (comments to the posts will often show otherwise) with neoclassical, rational-choice economics.
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.