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AIG executives went on luxurious retreat one week after receiving $85 billion bailout.

By Ben Armbruster  

"AIG executives went on luxurious retreat one week after receiving $85 billion bailout."


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Today, the House Oversight Committee discovered that, just one week after the federal government bailed out insurance giant AIG, company executives went on a retreat to a luxury resort. The executives spent nearly $500,000 on manicures, facials, pedicures, and massages, among other things. During a hearing today, Rep. Elijah Cummings (D-MD) asked, “Have you heard of anything more outrageous?”:

CUMMINGS: Let me describe for some of you the charges that the shareholders, taxpayers, had to pay. AIG spent $200,000 dollars for hotel rooms. Almost $150,000 for catered banquets. AIG spent $23,000 at the hotel spa and another $1,400 at the salon. They were getting manicures, facials, pedicures and massages while American people were footing the bill. And they spent another $10,000 dollars for I don’t know what this is, leisure dining. Bars?

Watch it:

The Gavel has more details of the total bill, including a copy of the invoice documenting AIG’s luxurious retreat.

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