As a taxpayer, The Hound is one of the millions of Americans who own a stake in AIG, the once-mighty insurance giant now 80 percent owned by the government. The Hound wants a free spa retreat like those company executives got less than a week after Uncle Sugar bailed them out to avoid bankruptcy.
No wonder Americans were skeptical of the bailout and afraid the fat cats would make out when the average Joe Sixpack, as Alaska Gov. Sarah Palin characterizes them, is left holding the bailout bag. Read on, feather merchants.
According to The Associated Press, the American International Group, Inc., which the federal government gave a $85 million loan for that aforementioned stake, sent executives on a $440,000 retreat to a tony Southern California resort. The tab included $23,380 of spa luxuries for said AIG employees. If The Hound gets a flea dip, it's a special day.
Did The Hound mention that because of getting involved in shaky sub-prime mortgage-related securities, AIG executives withheld damaging auditing reports from stockholders? Yup, smells just like Enron.
The Hound invites other AIG stakeholders to request the spa weekend at the SoCal retreat. Wonder if they'll mind if The Hound rolls around in a mud bath. They're so refreshing, yet expensive.