Do you find it ironic that AIG got a big bailout

@GardenGerty (169489)
United States
October 8, 2008 10:50am CST
then celebrated with a "retreat" at St. Regis spa, to the tune of $440,000? What would happen if you ran your life that way, and your finances? Their former CEO said "that was totally inappropriate." What do you think?
5 people like this
15 responses
@Barb42 (4214)
• United States
9 Oct 08
They not only took that retreat but said that none of their employees went; it was just for their clients. Sure! And they have another one planned in just another week or so! I think they need to be made pay all that money back to AIG!
2 people like this
@GardenGerty (169489)
• United States
9 Oct 08
I bet they didn't. I would not have the guts to go, if I was a client. I would feel like I was stealing from the taxpayers that bailed out the company. Someone needs to pay.
1 person likes this
@Barb42 (4214)
• United States
9 Oct 08
You would think honest clients would realize this and not go. But, hey, it wasn't their money! So they went on anyway. But I think AIG should have canceled them ALL!
2 people like this
@writersedge (22563)
• United States
8 Oct 08
I think the CEOs should have to fork up a percentage of their money to help with the bailout. Their mismanagement helped make the mess, so that amount of money and more should have been for the bailout. If Charities have to come up with a certain amount of money so the government can match it, then so should they. After all, now they're a charity, the government is donating to them for the common good. Since obviously there is money there to throw away, throw it back in the pot.
@GardenGerty (169489)
• United States
8 Oct 08
Sounds like a good plan as well. I just heard that now we are giving them even more money. I cannot believe the government is doing that as well, since this stupid party happened.
1 person likes this
@writersedge (22563)
• United States
9 Oct 08
You know, there was a judge that I really admired. He made this guy live in his own tenament house for a month under house guard. Then he had the man come back and tell him what he was going to do to make the place liveable. I think the CEOs should have to live with an elderly couple whom they recked the income of because of their phalandering money. Or maybe a poor person who was able to afford lights and heat, but can't now because of the economy that they helped make. Yup, second one is better. Many rich people have no clue. They don't even understand what they put others through. We need more judges like that one. Maybe even ask the guy if he learned anything besides how other people lived.
2 people like this
• United States
8 Oct 08
I think it is shocking and disgusting and that they should be made to give us the millions of dollars back. Some of my other opinions can be read in my discussion a few hours ago on the same topic. I guess great minds think alike! http://www.mylot.com/w/discussions/1737954.aspx?p=1#2_18153204
2 people like this
@GardenGerty (169489)
• United States
8 Oct 08
You are right. I had not seen your discussion, and I did not search. There were about five discussions or more about this started today, I learned, after I posted mine. I will go look at your discussion as I think the others should to. You always have some very astute reasoning in your posts.
1 person likes this
• United States
9 Oct 08
Thank you Gerty but there was nothing astute in my posting as I was just too damned mad. I agree with your other posting where you said they should be made to return the money spent on their trip.
1 person likes this
@drannhh (15219)
• United States
8 Oct 08
I find it criminal.
2 people like this
@GardenGerty (169489)
• United States
8 Oct 08
That says it all. They should be prosecuted. The only good I see is that it saved some of the people who have investments with them.
1 person likes this
@savypat (20216)
• United States
8 Oct 08
Well do you ever feel just like a puppet? I sure do everyone lies, and cheat. And in the mean time my savings goes down and down. No I am not surprised.
@GardenGerty (169489)
• United States
8 Oct 08
I feel mislead, and taken advantage of. There were people who would have been hurt if AIG folded, but the whole country is hurt by these shenanigans.
1 person likes this
• United States
8 Oct 08
Oh my.... That is just wrong. They are celebrating? I think that the government should step in and say, "Hey, if you can afford a trip to the spa, then you don't need our help." I think that CEOs in general are overpaid as are the majority of the higher level administration of the companies. Maybe if they would stop paying them millions of dollars a year, then the companies wouldn't have such a hard time and not need a government bailout.
@GardenGerty (169489)
• United States
8 Oct 08
If they were challenged by having real world incomes instead of these fantasy level income, they would not be so insulated from what it takes to live anymore. Too bad lynch mobs are no longer in style.(I am just teasing)
1 person likes this
@Thoroughrob (11742)
• United States
8 Oct 08
I do, I think they should be punished for it. That was so wrong!!!
2 people like this
@GardenGerty (169489)
• United States
8 Oct 08
I think the money needs to be paid back, the instigators lose their jobs, someone or other serve prison time, and maybe some of them have to work in community service of some kind. To see how the rest of us exist.
1 person likes this
• United States
11 Oct 08
I would type what my exact feelings are about this but it would be censored.
1 person likes this
@GardenGerty (169489)
• United States
11 Oct 08
We certainly cannot have that. I think I get your drift. Meanwhile we struggle on, work hard, and barely scrape on by.
@webeishere (36313)
• United States
8 Oct 08
First off I am elated for that bailout as my wife and I have a large annuity with AIG. But to party like mthat was totally uncalled for and irrespponsible I think. Hope it wasn't any of our money used. HAPPY POSTINGS FROM GRANDPA BOB !!~
2 people like this
@GardenGerty (169489)
• United States
8 Oct 08
For all of the people who have money with AIG, I am pleased and delighted that their investments have been saved. This party thing is an example though of how the company got in bad shape in the first place.
1 person likes this
@twoey68 (13627)
• United States
11 Oct 08
I would think that I'd be bumming money all the time, be in debt up to my eyeballs and chances are friends and family wouldn't like me. I think the money should have been put in the care of an accountant outside the company to distribute it properly. It also shows me that these ppl haven't learned anything. [b]~~IN SEARCH OF PEACE WITHIN~~ **AGAINST THE STORMS, I WILL STAND STRONG** [/b]
1 person likes this
@GardenGerty (169489)
• United States
11 Oct 08
You know, that uninvolved accountant, or accounting firm sounds like a really good idea. Why did our smart politicians not think of that?
@twoey68 (13627)
• United States
11 Oct 08
They were probably too busy thinking about how they could benefit from this disaster. [b]~~IN SEARCH OF PEACE WITHIN~~ **AGAINST THE STORMS, I WILL STAND STRONG** [/b]
@terri0824 (5203)
• United States
10 Oct 08
It frustrates me that we the tax payers bail a company out and they profit from it. That is one reason the sad state of the economy currently is the way that it is.
1 person likes this
@GardenGerty (169489)
• United States
11 Oct 08
It sounds like the government is going to take over or take partial control of a lot of banks etc. It is scary to me, because we then lose our freedom, and our responsibility when Uncle Sam takes over.
@dvschic (1795)
• United States
8 Oct 08
its a lil stupid. the entire bailout program is pretty retarded. they were concerned about their bonuses and the like. but what can you expect, they make more money than the president, their ego's are inflated and they feel entitled to this money. we shouldn't have bailed them out, they gambled and lost, when i gamble, no one bails me out!
2 people like this
@GardenGerty (169489)
• United States
8 Oct 08
I think that is an interesting point. A lot of CEO's make more money than the President. They are not really accountable to anyone it seems.
1 person likes this
@saundyl (9783)
• Canada
9 Oct 08
I think that WAS inappropriate and that there should have been limitations put on the companies bailed out as to what that bailout money was used for.
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@GardenGerty (169489)
• United States
11 Oct 08
Then they got a second bailout as well. They did finally decide to cancel a second retreat like this first one.
@ANTIQUELADY (36440)
• United States
8 Oct 08
i think it was totally inappropriate. no wonder they were is trouble.
2 people like this
@GardenGerty (169489)
• United States
8 Oct 08
This kind of thinking is why we are having to bail so many out. They want all the fun, whether they have worked diligently to earn it or not.
1 person likes this
@JoyfulOne (6231)
• United States
8 Oct 08
That is really disgusting! They got their bailout money and they shouldn't have spent it on celebrations more than doughnuts and coffee at break time. Makes you wonder exactly what kind of ceo's they are, and if they really merit being in that kind of position. Talk about taking advantage...grrrrrrrrrr.....
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@GardenGerty (169489)
• United States
8 Oct 08
One of the ones that got fired commented that it was totally inappropriate, and he would have never done it. It is easy for him to say that, since he no longer is employed there.
1 person likes this