The All-Inclusive Bailout

Outrageous

Updated Apr. 25, 2017 4:58PM EDT / Published Oct. 08, 2008 1:11PM EDT

The $85 billion dollar loan sure helped AIG execs work out some major kinks—in their necks! Days after the government saved the insurance provider from imminent bankruptcy, the executive team celebrated with a trip to the St. Regis Resort south of Los Angeles. 23,380 tax-payer dollars paid for golf, banquets and spa treatments. Even more ridiculous: Eric Dinallo, superintendent of the New York State Insurance Department, lauded the retreat. “The concept of bringing all the major employees together...to ensure that the $85 billion could be as greatly as possible paid back would have been not a crazy corporate decision," Dinallo told the House committee.

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The All-Inclusive Bailout