Well, here we go with the results of the first of what could be many mega-corporation bailout packages being abused by those receiving them - AIG American General spending part of that $85 billion package on a half a million dollar junket to a posh California resort (see the bill here http://www.thesmokinggun.com/archive/years/2008/1007083aig1.html?link=rs...).
A quick look at AIG Board of Directors shows a stream of finance industry corporate fatcats - and not ONE there representing the "investment" that the American people have made in this company.
Does something feel totally amiss here? To me, it would seem that there isn't ANYstock company in the WORLD big enough that an $85 billion investment wouldn't AUTOMATICALLY get the investor a seat on the board - but not so with AIG.
Here's a toll free number to call AIG if you're as pissed off as I am. You should write your Senator, too.
1-877-638-4244
- WThomasPayne's blog
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