Tuesday, October 7, 2008

And now this...

From the NY Daily News:

The financial meltdown has wiped $2 trillion out of America's retirement accounts, the government estimated Tuesday - but someone forgot to tell the fat cats.

. . .

Peter Orszag, the top congressional budget analyst, said that translates into $2 trillion lost from pension plans in the past 15 months.

The bad news came as congressional investigators revealed that less than a week after getting an $85 billion federal bailout, a group of American International Group executives went to an exclusive beach resort for a week and blew $440,000.

"The federal bailout occurred on Sept. 16. Less than one week later, AIG held a week-long retreat for company executives at the exclusive St. Regis Resort in Monarch Beach, Calif.," said Rep. Henry Waxman (D-Cailf.)

Invoices showed AIG's resort bill included $200,000 on room fees, $150,000 on banquets, $23,000 in spa charges and $7,000 in greens fees.

AIG received an $85 billion bailout from the government last month.


We gave them how much for what??????????????????

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