AIG: Still living it up

Despite reports to the contrary and the stock market tanking, life appears to still be good on Wall Street. You see, only on Wall Street can you get corporate welfare from the federal government one week, and still live the high life the next week.

A week after the insurance giant, American International Group, received an $85 billion federal bailout, its life insurance subsidiary, AIG General, held a weeklong retreat for its top sales agents at the exclusive St. Regis Resort in Monarch Beach, Calif. Expenses for the week, lawmakers were told, totaled $442,000, including $200,000 for hotel rooms, $150,000 for food and $23,000 in spa charges.

AIG got an $85 billion taxpayer bailout from the federal government and went on a spending orgy. And you didn't even get a facial or massage, a nice fuzzy bathrobe and slippers, filet mignon and a glass of $100/bottle wine, or even a mint on your pillow for your investment. You got nothing. Wanna see what your tax dollars bought? Don't worry, there's no surcharge for looking (yet).

Just imagine what King Henry and his corporate buddies will do with the $700 billion Congress just gave him the authority to spend.

Outrage doesn't even begin to cover it.