Less than a week after being bailed out by US lawmakers to the tune of 85 BILLION dollars, AIG – American International Group Inc. – spent US$440,000 to send executives on a weekend retreat at a posh California resort – including US24,000 in spa charges.
Yup. Spa charges. Nails, hair, steam baths, massage – the works. If I were an American, I’d want my money back… all of it.
“Not another dollar to these spendthrift beggars” should be the cry.
And that includes any corporations or financial institutions on Barbados who might come sniffing around for a gift. To hell with them all, I say.
MyWay News: AIG’s exec retreat after bailout angers lawmakers
Smoking Gun: Copy of the invoice
17 Comments
October 8, 2008 at 8:10 pm
Some of these corporate “tiefs” in the US are finally being exposed and hopefully some will go to jail. It appears that the normal rules that use to safeguard citizens savings were completely disregarded when it came to mortgage backed security and debt swaps. Greed and corruption reigned supreme.
Speaking of no rules and no oversight, whats happening in Barbados to those politicians and civil servants who never delivered audited statements on GEMS, Dodds, 3s etc and fed and drank like there was no tomorrow?
We are still waiting David!!!!
Every day that passes makes you look like another pig at the trough getting big and bigger ( literally ).
October 8, 2008 at 8:17 pm
It’s called “The Geo. W. Bush Financial Meltdown”
in which the ‘Never-Never’ can be allowed to continue forever
…as long as we keep believing…just like the advice Peter Pan gave to Wendy re. her worries about keeping aloft.
Wheeee!
October 8, 2008 at 8:58 pm
The serious look at the Wall street crisis:
http://www.cbsnews.com/video/watch/?id=4502673n
The comedic look at the Wall street crisis:
http://www.dailymotion.com/video/x684wa … bprime_fun
October 8, 2008 at 10:00 pm
We need a story on the recent payout to mia by some british magazine for comments they made about her.
October 8, 2008 at 11:35 pm
Nero fiddled while Rome burned.
October 9, 2008 at 10:09 am
Heard they were asking for more bailout money too, as if 85 Billion wasn’t enough,but this is what you get when your own government is in on your demise.
October 9, 2008 at 10:36 am
This is the same thing Barrack Obama was warning about, CEO’s reaping the sweets while the average person hold the weight. One of McCain’s advisors was given $ 43 mil. payout as conpensation. then these are the people who would pass judgement on the third world. they are now being exposed.
October 9, 2008 at 1:55 pm
Grain shipments stalled in credit drought
John Greenwood, Financial Post Published: Tuesday, October 07, 2008
The credit crisis is spilling over into the grain industry as international buyers find themselves unable to come up with payment, forcing sellers to shoulder often substantial losses.
Before cargoes can be loaded at port, buyers typically must produce proof they are good for the money. But more deals are falling through as sellers decide they don’t trust the financial institution named in the buyer’s letter of credit, analysts said.
“There’s all kinds of stuff stacked up on docks right now that can’t be shipped because people can’t get letters of credit,” said Bill Gary, president of Commodity Information Systems in Oklahoma City. “The problem is not demand, and it’s not supply because we have plenty of supply. It’s finding anyone who can come up with the credit to buy.”
So far the problem is mostly being felt in U.S. and South American ports, but observers say it is only a matter of time before it hits Canada.
“We’ve got a nightmare in front of us and a lot of people are concerned it’s going to get a lot worse,” said Anthony Temple, a grain marketing expert based in Vancouver.
Continued at:
http://www.financialpost.com/story.html?id=866310
October 9, 2008 at 2:17 pm
Can’t we just round up these bankers, investment brokers etc and strip them naked?
October 9, 2008 at 2:18 pm
Bajans and Canadians should be thankful that their Banks are well capitalised and have very limited exposure to the American and European Banking fiasco.
October 9, 2008 at 2:25 pm
If true, No Surprise! wonder if CCN, Fox, ABC and others will run the story!!!! Hmmm!
October 9, 2008 at 4:24 pm
For insensitivity, Wachovia refuses to be outdone (sending 75 employees on a Mediterranean cruise)
As ailing Wachovia Corp. waits to see whether it will be acquired by Wells Fargo & Co. or Citigroup Inc. — possibly with taxpayers paying the tab for hundreds of billions of dollars in bad loans — some of the company’s top brokers are preparing to depart Saturday for an all-expenses-paid cruise of the Greek Isles.
The weeklong trip for up to 75 employees of brokerage A.G. Edwards, which Wachovia acquired last year for nearly $7 billion, will also include spouses and significant others, said Teresa Dougherty, a Wachovia spokeswoman.
“This is one way that we recognize our top financial advisors,” she said.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102×3535307
October 9, 2008 at 8:51 pm
Can we get some of those Somali pirates to meet with this ship? schuupppssssee.
October 9, 2008 at 10:46 pm
Fuh real? fuh true?
The United States, where some of Wall Street’s biggest financial names have collapsed in recent weeks, rated only 40, just behind Germany at 39, and smaller states such as Barbados, Estonia and even Namibia, in southern Africa.
October 9, 2008 at 10:48 pm
The above is on the Canadian evening news.
Good for “the island nation of Barbados”
October 10, 2008 at 11:25 am
Barbados could still make out good from this bout of a capitalism meltdown…
The agencies BIDC & Tourism Invest Barbados could (if they were smart) seek-out U.S. companies that will want to sharply cut-costs by outsourcing and show them how Barbados’ workforce can take over those roles. U.S. companies are going to be in a big— push between now and Christmas to lay many people off here because they aren’t going to want to payout bonuses come January.
Anyway Barbados could take on telemarketing as one industry.. The Transcription industry is another… The Barbados government has been kicking the transcription industry around for a while… But as Asia seems to become mired more and more into this terrorism thing and with the U.S. candidates hinting about bombing Iran and/or Pakistan next the Caribbean in being right next door might be a bigger bastion for US companies that might want to pull out of that troubled region of asia and may want to move to something closer to US shores. The commonality of the English language makes the Caribbean an easy shoe-in for this- given that it is surrounded by mainly Spanish speaking nations. It is up to the Barbados Government if they want to make the best of this downturn and try to salvage something from it.
October 10, 2008 at 11:33 am
It is crazy… All of my credit cards are shifting from Bank to Bank to Bank. I donno who I’ll end up doing business with when the dust settles.
So far Bank of America and Citigroup are the big winners from this… They are picking up LOTS of banking assets from across the U.S. for a steal… Bank of America for example got Bear Stearns for a couple billion and yet– Bear Stearn’s building (as an asset) is worth like a billion alone. If some Caribbean companies ever wanted to expand into the U.S. cheaply— now would be the time… Canadian banks have been snapping up small U.S. banks now the past few months because they’re worth so cheap right now.