Do you remember that $700 billion plan to save the American Economy?
Just a few days after the American International Group Inc, (AIG) tapped into an $85 billion in taxpayer funds from the government it needed to stave off bankruptcy, executives went on an expensive retreat in St. Regis Resort Monarch Beach Resort in Dana Point, Calif., complete with spa treatments, banquets and golf outings, according to lawmakers investigating the company's meltdown.
The resort tab included $23,380 worth of spa treatments, almost $200,000 for rooms - some costing as much at $1,000 a night - $150,000 for meals and $25,000 in spa and salon charges for pedicures, manicures, facials and massages, according to invoices the resort turned over to the House Oversight and Government Reform Committee.
Americans are suffering; losing their jobs, their homes and their health insurance while the executives are pleasuring themselves with taxpayers' money.
You can view the AIG Retreat Invoice here [pdf].
In addition to this, the committee heard testimony that Lehman Brothers also doled out more than $20 million in bonuses to top executives just four days before the investment giant declared bankruptcy.
So much for bailing out the economy.
At the end, we, the taxpayers will pay either way.
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