Next time the federal government bails out the big business morons, they really need to attach some strings and some consequences. It is absolutely ridiculous what the ABC15 reporters found. At first glance, the 2008 Asset Management Conference held this week at the Pointe Hilton Squaw Peak Resort in Phoenix looked like a normal conference. However, the people who went to it were less than ordinary. American International Group made efforts to disguise the conference, and there were no AIG logos or signs anywhere on the property (they were a $343,000 sponsor of the event which was not allowed under the bailout rules). The ABC15 Investigators went undercover at the resort and observed AIG executives having poolside meetings while drinking coffee and working out at the spa while other attendees were in conference rooms for seminars. The executives were also seen at after parties drinking it up and having AIG pick up the tab (ie the taxpayers). I wonder (aff) what else we picked up the tab for: taxi trips, travel insurance, room service? The hotel staff were told they weren't even allowed to say AIG.
This, of course, comes on the heels of them getting another $40 million (or is it billion?) of taxpayer money to bail them out. Yeah, I think we need to take the blank check away. How about you? Obviously, AIG doesn't get it.