White House calls AIG spa trip 'despicable'

News Type: Opinion — Seeded on Wed Oct 8, 2008 4:03 PM EDT

Article Source: msnbc.com

The White House said on Wednesday it was "despicable" that American International Group Inc. executives spent hundreds of thousands of dollars on a posh California retreat just days after getting a federal bailout.

Msnbc.com would like to know whether the action of these AIG executives makes Newsviners rethink whether the government should have bailed out the world's biggest insurer.

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{"commentId":3386078,"authorDomain":"bpeters-1"}

bp-624867

No, the CEO's should have taken responsibility, the American people should have voted on this, not congress, face it, we have no representation anymore, just taxation! These men should be indicted for fraud, assets frozen and put back into the company!

{"commentId":3386078,"threadId":"383171","contentId":"1971421","authorDomain":"bpeters-1"}

3 votes

#1 - Wed Oct 8, 2008 4:13 PM EDT

{"commentId":3386549,"authorDomain":"johnleigh54"}

Johnleigh

These bigshots at the top of the corporate ladder should be investigated, there assets frozen just like any other common criminals. This is white collar crime at it's worst and us taxpayers have to foot the bill.

{"commentId":3386549,"threadId":"383171","contentId":"1971421","authorDomain":"johnleigh54"}

3 votes

#1.1 - Wed Oct 8, 2008 4:31 PM EDT

{"commentId":3389871,"authorDomain":"messer"}

MMESSER

Sure, they should go to jail. They won't though, because they have looted enough money from the coffer to keep he courts tied up for years.

This is why the Presidential race is so important, VOTE. Honest, everyday Americans have entrusted far too much to the self serving politicians of Washington. We went to work everyday, and left the leadership up to those who were more concerned. Specifically to those with an "Interest" in how things turn out, and as per the American-way, make a few (A Lot of) bucks along the way. Problem is they have been driving truckloads of cash into their pockets, and those who support them. 700 Billion as of late, to help throw elitist AIG executive parties at a resort & spa. How much money to you actually think will trickle down to us common folk?

The political process is not about serving your fellow man/woman/child, anymore. It's about how far I can go before I get caught, and what can I get away with while I am in charge. I feel like they are looting us one last time before the walls come crashing in... and they are hoping we won't catch them. We probably won't, because we are more worried about those new 24's for the 17 passenger SUV only I drive around in. But hey I LOOK WEALTHY, DON'T I? Call me Mr. Jones...

The government has forgotten they work for us, and take orders from us, when is the last time they actually listened to our opinion? and truly acted on OUR behalf? Without sliding in some underlying bill that fattens an obscure projects's pockets?

Politicians should remember it's an honor to hold office, because you are serving your neighbors and country.

But lest some unlucky event should happen unfavorable to my reputation, I beg it may be remembered by every gentleman in the room that I this day declare with the umost sincerity, I do not think myself equal to the command I am honored with.

Washington's formal acceptance of command of the Army, June 16, 1775-McCullough pg.49 Via WIKIPEDIA

{"commentId":3389871,"threadId":"383171","contentId":"1971421","authorDomain":"messer"}

3 votes

#1.2 - Wed Oct 8, 2008 7:16 PM EDT

{"commentId":3386080,"authorDomain":"venga-maria"}

Ax Grinder

Let the NEW American revolution begin, it is the ONLY way positive change will occur in this country. America presently lacks integrity from the top down...Fight the Power

{"commentId":3386080,"threadId":"383171","contentId":"1971421","authorDomain":"venga-maria"}

#2 - Wed Oct 8, 2008 4:13 PM EDT

{"commentId":3386092,"authorDomain":"causby-j"}

john causby

They all should go to prison!!

{"commentId":3386092,"threadId":"383171","contentId":"1971421","authorDomain":"causby-j"}

1 vote

#3 - Wed Oct 8, 2008 4:13 PM EDT

{"commentId":3388348,"authorDomain":"bc2254"}

Sarah-627296

agreed, the CEO's of all the companies involved should be served with arrest warrants by the FBI instead of given million dollar severance packages. This is white collar crime against the American public.

{"commentId":3388348,"threadId":"383171","contentId":"1971421","authorDomain":"bc2254"}

3 votes

#3.1 - Wed Oct 8, 2008 5:51 PM EDT

{"commentId":3386103,"authorDomain":"pmedved"}

Phil-626868

GREED! Pure and simple.

{"commentId":3386103,"threadId":"383171","contentId":"1971421","authorDomain":"pmedved"}

2 votes

#4 - Wed Oct 8, 2008 4:13 PM EDT

{"commentId":3386132,"authorDomain":"jrwasko"}

JRWasko

I knew this was going to happen and that is why the government should not have bailed out anybody including the 700b bailout. The money would have been much better spent creating jobs by repairing the infrastructure and schools along with so manyother needs this country has. I wonder how many of the government had money invested in these firms and did it for their future and let everybody else pay for it.

{"commentId":3386132,"threadId":"383171","contentId":"1971421","authorDomain":"jrwasko"}

3 votes

#5 - Wed Oct 8, 2008 4:15 PM EDT

{"commentId":3387310,"authorDomain":"susanyreeves"}

trailergurl

We should have been given $20,000.00, each head of household. Our spending on debt etc...would have given us the power of our tax dollar. Instead we blindly handed it to these puffy-white-men-of-power.

{"commentId":3387310,"threadId":"383171","contentId":"1971421","authorDomain":"susanyreeves"}

3 votes

#5.1 - Wed Oct 8, 2008 5:03 PM EDT

{"commentId":3386136,"authorDomain":"skigirlwendy"}

WD-626877

This kind of "higher-than-though" attitude has got to stop! As a taxpayer who got "downsized" out of a job last year and now struggles to meet my family's needs, I'm quite offended by this behavior.

I'm not sure that we should not have bailed them out, as if we didn't come through then there are other people that would get hurt by the selfish and greedy behavior exhibited by AIG's upper management.

Personally, I think that all upper management who have made these poor decisions should be let go. Qualified personnel surely work for that company and can replace the ones who have poor ethical behaviors.

{"commentId":3386136,"threadId":"383171","contentId":"1971421","authorDomain":"skigirlwendy"}

1 vote

#6 - Wed Oct 8, 2008 4:15 PM EDT

{"commentId":3389814,"authorDomain":"pooronalivingwage"}

pooronalivingwage-627512

They should be fired AND not allowed to work in the entire industry for at least 2 years; more depending on how many millions they received. Say, 1 year for every million. AND they are not allowed to lobby the Congress. Which, in fact, puts Paulson out of the picture. Why was / is anyone listening to him?

It would cost too much to prosecute them, their lawyers will make all the money and unless we put them on house arrest, we would have to pay for their countryclub prison.

Put these financial crooks out of a job like many of us.

{"commentId":3389814,"threadId":"383171","contentId":"1971421","authorDomain":"pooronalivingwage"}

#6.1 - Wed Oct 8, 2008 7:12 PM EDT

{"commentId":3386141,"authorDomain":"ChuckNLa"}

Chuck/NLa

But will anything be done about it? Nooooo!

Nothing will be done because our legislators are all bark and no bite!

{"commentId":3386141,"threadId":"383171","contentId":"1971421","authorDomain":"ChuckNLa"}

1 vote

#7 - Wed Oct 8, 2008 4:15 PM EDT

{"commentId":3386143,"authorDomain":"mcole72"}

mcole72

sick sick sick

{"commentId":3386143,"threadId":"383171","contentId":"1971421","authorDomain":"mcole72"}

#8 - Wed Oct 8, 2008 4:15 PM EDT

{"commentId":3386187,"authorDomain":"cld1717"}

Cathy D

Those responsible for the economic crisis via the CEO's/CFO's of the Wall Street blunders should be financially responsible for the bailout before the recovery hits the wallet of the American workforce. Rather than allowing executives of defunct corporations to continue in the "lap of luxury", the American government should make them pay restitution for what seems to be extorted funds.

The American workforce does not have billions/ millions nor any other kind of windfall to live on; nor do many of us have 401K's and/or retirement funds that we have worked our lives for thanks to these theives. Those who floundered the security of American's should NEVER be allowed to walk away from this mess financially sound.

{"commentId":3386187,"threadId":"383171","contentId":"1971421","authorDomain":"cld1717"}

1 vote

#9 - Wed Oct 8, 2008 4:16 PM EDT

{"commentId":3386195,"authorDomain":"bwolfhowling"}

fire in the belly

nononononononononononononononononononononononononononononono!!!!!!!!!!!!!!!!!!!! Never should have bailed out the CROOKS!!!!!

{"commentId":3386195,"threadId":"383171","contentId":"1971421","authorDomain":"bwolfhowling"}

1 vote

#10 - Wed Oct 8, 2008 4:17 PM EDT

{"commentId":3386223,"authorDomain":"causby-j"}

john causby

I think half of congress should got to jail, look at that Stevens guy..another crook!!

{"commentId":3386223,"threadId":"383171","contentId":"1971421","authorDomain":"causby-j"}

#11 - Wed Oct 8, 2008 4:18 PM EDT

{"commentId":3386232,"authorDomain":"fucan4me"}

Cindy-626900

Absolutely ridiculous. Everyone who went to the spa should be fired. Government owns 80% now...then go in there tomorrow and make everyone left reapply for their jobs...listing what they will do for the company, full detailed 5 yr plan. if they don't follow thru, they're out.

{"commentId":3386232,"threadId":"383171","contentId":"1971421","authorDomain":"fucan4me"}

#12 - Wed Oct 8, 2008 4:18 PM EDT

{"commentId":3386255,"authorDomain":"scleslie"}

Just_Another_Sheep

Excuse me, but I do not believe anyone of us "Newsviners" agreeed they should have been bailed out period even before this happened.

Where you not blind to all the messages posted months ago about AIG getting a government handout while their executives were rolling in multimillions of dollars??

{"commentId":3386255,"threadId":"383171","contentId":"1971421","authorDomain":"scleslie"}

2 votes

#13 - Wed Oct 8, 2008 4:19 PM EDT

{"commentId":3386264,"authorDomain":"arthur57"}

Michele NY

Despicable doesn't even cover it, millions of Americans are attempting to see the value in this rescue plan and their off playing at a resort. Even if the financial group was not present on this boondoggle AIG should have known better and cancelled the trip.

{"commentId":3386264,"threadId":"383171","contentId":"1971421","authorDomain":"arthur57"}

#14 - Wed Oct 8, 2008 4:19 PM EDT

{"commentId":3386266,"authorDomain":"gwm2wpb"}

dumb blond

Put them all in jail and let BUBBA give them a massage for ever and ever

{"commentId":3386266,"threadId":"383171","contentId":"1971421","authorDomain":"gwm2wpb"}

1 vote

#15 - Wed Oct 8, 2008 4:19 PM EDT

{"commentId":3386272,"authorDomain":"drlajafcm"}

DR. Lincoln Jailal

Absolutley not!!!!!! Theft is a crime. How do we allow big theives to get away with billions but jail the petty thief for a few dollars. This whole sytem of justice stinks and I am truly disappointed in our great nation ..... what a bunch of criminals run this nation and enjoy the perks of evil power. May God rescue is from the evil of these wicked humans. I have lost all respect for bug government and big business. They can all go to hell.

{"commentId":3386272,"threadId":"383171","contentId":"1971421","authorDomain":"drlajafcm"}

#16 - Wed Oct 8, 2008 4:19 PM EDT

{"commentId":3389626,"authorDomain":"Mike7"}

Mike7

I agree with you 1000% We are headed for TERRIBLE TIMES!! Trust me these so called Leaders or ours will pay!! HE is WATCHING!! Judgement Day is at HAND!!

{"commentId":3389626,"threadId":"383171","contentId":"1971421","authorDomain":"Mike7"}

#16.1 - Wed Oct 8, 2008 7:02 PM EDT

{"commentId":3386276,"authorDomain":"boblisa"}

momof2-

If this was any other average american working person.....we would be in jail by now and the key would be thrown away!

{"commentId":3386276,"threadId":"383171","contentId":"1971421","authorDomain":"boblisa"}

1 vote

#17 - Wed Oct 8, 2008 4:20 PM EDT

{"commentId":3386298,"authorDomain":"budman49"}

RONNIE RICHARDSON

I REALLY COULD NOT BELIEVE THE NERVE OF THESE PEOPLE,,BUT NOT SURPRISED, THEY CARE ABOUT NO ONE BUT THEM SELFS,,, SOMEONE IN OUR GOVERMENT PROFITED FROM THIS AND UNTIL WE STOP THIS KIND OF CON ARTIST,,,WE, THE MIDDLE CLASS PEOPLE WILL NEVER SEE THE LIGHT OF DAY,,, NOTHING OUR GOVERMENT AS DONE AS BEEN FOR THE MIDDLE CLASS,,, THIS IS NOT A DEMOCRACY ANYMORE,,, ,,THIS IS A DICTATORSHIP,,RUN BY OUR SO CALLED GOVERMENT,,, CANT WAIT TILL I HEAR ABOUT CONGRESS AND REP GIVING THEMSELFS A RAISE,,THEY HAVE DONE SHOULD A GREAT JOB,,,RIGHT,,NOW PUSH ME IN THE EYE WITH A STICK,,,

{"commentId":3386298,"threadId":"383171","contentId":"1971421","authorDomain":"budman49"}

#18 - Wed Oct 8, 2008 4:20 PM EDT

{"commentId":3386303,"authorDomain":"battlemaiden-1"}

thelady

Everyone that participated in this affair shoul be held accountable, they should be made to pay every penny back, plus a steep fine. This should be done immediately.These "fatcats" have fleced the public long enough.

{"commentId":3386303,"threadId":"383171","contentId":"1971421","authorDomain":"battlemaiden-1"}

#19 - Wed Oct 8, 2008 4:20 PM EDT

{"commentId":3386304,"authorDomain":"steve-66"}

Steven K. Berg

Yes, but with extensive and ironclad conditions, which include oversight of modus operandi, limit on bonus/salary/retirement compensation for executives, elimination of perks that are offensively outrageous, and firm requirement that money be paid back to US taxpayers with moderate/reasonable interest. It does not matter that the group taking the expensive spa trip is in a separate division and not part of the financial speculation/sub-prime mortgage buying arm. As soon as this situation became as important and newsworthy as it did, all departments and divisions of AIG should have pulled the plug on business retreats/sales contest prizes, etc. This was just plain stupid, arrogant and infuriating to the American public. Are there no means for imposing discipline on these haughty executives?

{"commentId":3386304,"threadId":"383171","contentId":"1971421","authorDomain":"steve-66"}

#20 - Wed Oct 8, 2008 4:20 PM EDT

{"commentId":3409502,"authorDomain":"Oldtimer1"}

Old Timer-618720

Totally agree!!! What is wrong with a nice plaque like the rest of us get? Or a gift card to Dairy Queen? O, right, they aren't common like the rest of us, none of those things are good enough

{"commentId":3409502,"threadId":"383171","contentId":"1971421","authorDomain":"Oldtimer1"}

#20.1 - Thu Oct 9, 2008 11:03 PM EDT

{"commentId":3386310,"authorDomain":"jcbertrand"}

James bertrand

Should send them to jail and make them pay back,no retreact we need more people that want the right thing in life, in my book no person is worth that kind of money AIG should have to pay back everything back. plus jial time and a fine.

{"commentId":3386310,"threadId":"383171","contentId":"1971421","authorDomain":"jcbertrand"}

#21 - Wed Oct 8, 2008 4:21 PM EDT

{"commentId":3386330,"authorDomain":"scleslie"}

Just_Another_Sheep

Oh and now that our government owns an 80 plus percent share og AIG, why have they not fired these clowns with no golden parachutes?? What a joke.

If this is the kind of oversight our government plans to do to these companies feeding off the backs of american taxpayers, I guess we can expect the rest of the 850 billion bailout bill to get squandered in the same manner!

{"commentId":3386330,"threadId":"383171","contentId":"1971421","authorDomain":"scleslie"}

#22 - Wed Oct 8, 2008 4:22 PM EDT

{"commentId":3386343,"authorDomain":"cinda1977"}

Cinda Decker

This is ludicris what these execs have done. They should be held accountable for the loss. They need to pay back the money the govenment gave them, if not take the exec to court and put their butts in prison.

The government needs to bail out the citizens not businesses. The economy would be revived if the government would give the citizens, even half what they just signed to bail out the big boys. We could pay the mortages and credit card bills, then still have money to spend to get the economy back on track. Makes sense, why can the politicians realize that?

C. Decker

{"commentId":3386343,"threadId":"383171","contentId":"1971421","authorDomain":"cinda1977"}

#23 - Wed Oct 8, 2008 4:22 PM EDT

{"commentId":3388790,"authorDomain":"djones-4"}

dmj-627369

I agree the money should have gone to the people who work hard and make their payments. Just think would could have been done with that $400,000, pay off your house, your credit cards, put your kids through college. Maybe have steak for dinner.

{"commentId":3388790,"threadId":"383171","contentId":"1971421","authorDomain":"djones-4"}

1 vote

#23.1 - Wed Oct 8, 2008 6:15 PM EDT

{"commentId":3386398,"authorDomain":"LaliAmora"}

Lali.Amora

No.....They never should have been bailed out. I hope they get into Deeeeeep trouble for this spa trip. I hope the ones that went lose their job.

{"commentId":3386398,"threadId":"383171","contentId":"1971421","authorDomain":"LaliAmora"}

2 votes

#24 - Wed Oct 8, 2008 4:25 PM EDT

{"commentId":3386411,"authorDomain":"jvarecha"}

J. Varecha

NO and the is with the big "H"

this company and others have not learn anything its just like an alcoholic a drug user or a politician

take em all straight to jail

it must be really hard doing the right thing

{"commentId":3386411,"threadId":"383171","contentId":"1971421","authorDomain":"jvarecha"}

#25 - Wed Oct 8, 2008 4:25 PM EDT

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AIG execs' retreat after bailout angers lawmakers	msnbc.com	Wed Oct 8	8
Lawmakers steamed after ritzy AIG retreat after bailout	CNN	Wed Oct 8	1
White House: AIG execs' retreat `despicable'	Associated Press	Wed Oct 8	7
After the bailout, AIG executives spend $440,000 on a retreat	CNN	Wed Oct 8	95
AIG Spent $400K on Party,Golf,Spa for Execs Days After $85B Bailout	Yahoo! News	Wed Oct 8	3

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White House calls AIG spa trip 'despicable'

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