Wednesday, October 08, 2008

An Additional $37 Billion Dollars For AIG?

Video From: VoiceOfAmericans2008

I told you that I was not the smartest man out here, but there is something seriously wrong when we hear about AIG and another $37 billion dollar loan from the Treasury. A week after the government bailout. AIG is reported to have at the cost of $443,343.71 spent or paid this amount for their executives at a retreat in California.

Rep. Cummings said, "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."

Today as reported by CBS.

The Federal Reserve has agreed to provide insurance giant American International Group with a loan of up to $37.8 billion, on top of one made to the troubled company last month.

This even after the Bush administration stated "it was "despicable" that AIG executives spent hundreds of thousands of dollars on a posh California retreat just days after getting the $85 billion bailout."

Just what does this say to Americans when we are told that an additional loan worth billions were being given to this institution for the bailout, what say you?


ThomasLB said...

I think it demonstrates how detached the leisure class has become from the working class. Eventually there's going to be a revolution- and like Marie Antionette before them, they won't have a freakin' clue why.

LET'S TALK said...

French Monarchy, is just what we must realize that we have been living in for a long tome now.

When we see the facts that our government allows unfair credit practice to the middle class, maybe we will call it as it really is here in America.

We need to stop buying like crazy and becoming prisoners to the financial institution.

Frogette said...

Personally I can't believe we're giving them more money. How do I get "too big to fail"? I could use a subsidy myself.

And you're both right about the French Revolution parallels. I've been saying it for years, "Screw the middle class and you'll lose your head."

LET'S TALK said...

Frogette, I think we all could use a subsidy at this point. When you really think about what is going on, you must at some point wonder...when are the American people going to be bailed out with regulations to if they could or could not afford their home?

We see that we have been led to think that our money and loans were actually insured.

Anajo/Anijo/JoAnn said...

Just what does this say to Americans when we are told that an additional loan worth billions were being given to this institution for the bailout, what say you?

And all the while that the CEO's rake in billions of dollars? That we're a bunch of suckers?

What it tells me is that the bailout option was necessary. I know that Wallstreet surrogates were upset about reducing anyone's salary, and thus we ended up with a compromise.

LET'S TALK said...

While Americans fall and this Monarch that rules, still cannot get over the fact that the time of playing with money and the middle class is over.

We are looking at a fall all over the world and all we get are different ways to solve the problems every week. Then we see that the financial institutions still refuse to regulate because there are no real plans that seem to work.

I say the American middle class first must be brought out of this fall first with the $700 billion dollars.

LET'S TALK said...

Anajo/Anijo/JoAnn, we have been down this road for so long that we are use to getting the short end of the stick.

JollyRoger said...

The revolution will occur in the next 5 years, and it will be a schism. This Government is broke, huge numbers of Americans do not participate in the daily life of society, and our Armed Forces are largely made up of a socioeconomic class that has been mercilessly persecuted by the moronic monkey.

I see 3 distinct countries being carved out of the carcass of the USA, but it is possible we'll wind up with 5 or more by the time it is all said and done.

LET'S TALK said...

Now that's a scary thought JollyRoger, "3 distinct countries being carved out of the carcass of the USA." Wow!

Tom Harper said...

Yes, there are a lot of parallels to the French Revolution. Millions of Americans will not keep rolling over (or bending over) every time the aristocracy walks all over us.

LET'S TALK said...

Tom Harper, point well taken. We are not going to put up with this now that our homes and security for our families have come into play.

1138 said...

Does anyone else find it disturbing how 10's and hundreds of BILLIONS get tossed around like nothing lately?
It can't just be me.

LET'S TALK said...

It's not just you that notice this 1138. Why do we not put a stop to this type of government that "looks out" for or well being for the rich , but use us and money to support them.

Everything trickles down to us, so they say...