AIG caught having a SECRET luxury resort meeting

GermanTrader · Nov 11, 2008

Quote from scriabinop23:

The financial planners are responsible for generating almost $200M in revenue this year for AIG as of September 30th.

Well, there we are. Rewards for those who brought in more business for AIG. I knew it was one of those two.

ipatent · Nov 11, 2008

Draft all highly paid execs of bailout aid companies into the military, they can sleep on cots and have their meetings in the mess hall.

MattF · Nov 11, 2008

this one may fall more into the "secrecy" bit then the actual spending. Then again, got to keep up with the image, even if it's faltering

(or for that matter, using other companies and sponsors to fund these things as favors)

No matter what, these things cost 6 figures minimum to throw...just typically on the hotel rooms.

And sure, definitely can't do these at the Holiday Inn...

gnome · Nov 11, 2008

Quote from MattF:

"... No matter what, these things cost 6 figures minimum to throw...just typically on the hotel rooms.

And sure, definitely can't do these at the Holiday Inn...

Why? Hookers won't go to a Holiday Inn?

swtrader · Nov 11, 2008

Quote from scriabinop23:

I agree, but let's be realistic - the entire wall street sales culture functions like this. The alternative is that they all stop selling anything (pre-emptively go bankrupt).

What main street investors buy for investments is a function of how many hookers the wholesalers buy for their brokers and 'investment advisors', not any inherent quality in the cointoss they sell.

The alternative to these 'bailouts' is a income and corporate tax revenue cut in half, immediate depression, all amongst debt and entitlement obligations we can't afford. The 'AIG bailout' is actually a JPM/C/GS/etc. bailout -- since the required increased CDS collateral goes right to their coffers.

To quiet the dissent the only idea I have is 1.5T of spending on energy research, infrastructure, unemployment benefits, etc... along with tax hikes to the rich. This is about class dissent (which is justified, again) -- main street disdains 'cost of sales' ...

Either we put up with this or our dollars all become instantly worthless. There is no third choice. Oh yea, and the end game is either a ton of inflation or abject poverty.

FUCK them

if they can do it on their OWN FUCKING DIME, then FINE

but dont give me this 'it's their culture' SHIT, if they have to have WELFARE to do it, because it's not my culture to subsidize it

these assholes need a 'paradyme shift'

swtrader · Nov 11, 2008

Quote from MattF:

this one may fall more into the "secrecy" bit then the actual spending. Then again, got to keep up with the image, even if it's faltering (or for that matter, using other companies and sponsors to fund these things as favors)

No matter what, these things cost 6 figures minimum to throw...just typically on the hotel rooms.

And sure, definitely can't do these at the Holiday Inn...

how are they 'keeping up their image', when they're hiding their logo?

swtrader · Nov 11, 2008

""This action was necessary to maintain the stability of our financial system," said Neel Kashkari, who heads the government's bailout program. "

Neel KashKari (Kneel Cash Carry) in charge of the bailout?

you cant make this shit up

http://en.wikipedia.org/wiki/Neel_Kashkari

someone from India (his parents) in charge of the bailout. call me 'racist', but but after working with H-1bs, i've never met a more universally dishonest group of people

AAA30 · Nov 11, 2008

Quote from MattF:

this one may fall more into the "secrecy" bit then the actual spending. Then again, got to keep up with the image, even if it's faltering (or for that matter, using other companies and sponsors to fund these things as favors)

No matter what, these things cost 6 figures minimum to throw...just typically on the hotel rooms.

And sure, definitely can't do these at the Holiday Inn...

I am not sure about the US but in Canada the advisor or their firm needs to pay the travel and accomodation expenses for themself as per regulations. So the cost for AIG would be for the seminars and entertainment.

I also have to agree with the other poster that this is how the industry works. There is a whole industry of people called wholesalers whoms job is to wine and dine retail advisors to win business. The real person who pays for these events is the end user of AIG's products.

AAA30 · Nov 11, 2008

Quote from swtrader:

""This action was necessary to maintain the stability of our financial system," said Neel Kashkari, who heads the government's bailout program. "

Neel KashKari (Kneel Cash Carry) in charge of the bailout?

you cant make this shit up

http://en.wikipedia.org/wiki/Neel_Kashkari

someone from India (his parents) in charge of the bailout. call me 'racist', but but after working with H-1bs, i've never met a more universally dishonest group of people

Yeah you are a racist.

"Kashkari, an Indian-American,[4] was born on July 30, 1973, in Akron, Ohio, and grew up in the Akron suburb of Stow, Ohio. "

GermanTrader · Nov 11, 2008

Quote from ipatent:

Draft all highly paid execs of bailout aid companies into the military, they can sleep on cots and have their meetings in the mess hall.

How about this... send them all to labor camps where they rebuild our nation's bridges and ports!