Oct 20, 2008
Within three weeks of getting the 85 billion dollar government bail out, AIG, the largest insurance company in the world, admitted that it had run through all the money without even beginning to unwind its debts. So the government gave AIG another 38 billion dollars.
Now the company is fighting tooth and nail to stop even the appearance of government regulation or oversight.
Obviously, AIG executives want to keep secret how they are spending the bail out money. Why? One can only imagine that they are funneling the money into all kinds of pockets of wealthy people and rich companies.
Certainly the recent scandals, after the bailout, show what kind of attitude these executives have. They went ahead with the all-expense-paid vacation to a California spa at a cost of $440,000 and a partridge hunting trip to England that cost almost as much.
These top AIG guys think they can do what they want with tax-payer money. And so do all the rest of the top executives of all the big financial companies.