Those ugly Republicans at AIG got caught partying on the taxpayer's money. Typical.
Obama on AIG’s $400,000 party: ‘Fire the scoundrels!’
October 7th, 2008, 9:37 pm · 8 Comments · posted by Teri Sforza, Register staff writer
The first question of tonight’s presidential debate went to Sen. Barack Obama, and conjured a genuine OC-grown controversy. Talking about the $700 billion Wall Street bailout plan, Obama said:
“We have to make sure it works properly….That means strong oversight…it means we are cracking down on CEOs and making sure that they are not getting bonuses or golden parachutes as a consequence of this package.
“In fact, we just found that AIG - a company that got a bailout - just a week after they got help, went on a $400,000 junket.
“I tell you what. Treasury should demand that money back, and those executives should be fired.”
The Watchdog broke the AIG story on Oct. 2:
Less than two weeks after Uncle Sam gave American International Group (AIG) an $85 billion loan - staving off financial collapse - execs from one of its insurance subsidiaries, AIG American General, gathered for a conference at the uber-swank St. Regis Monarch Beach Resort, billed as “California’s only Mobil Travel Guide Five-Star Resort,” where ocean-view rooms start at $565 a night and “world class luxury” is the rule.
Today, thanks to Rep. Henry Waxman, chairman of the House Committee on Oversight and Government Reform, we have the bill for the junket. Total: $443,344.
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