Thursday, October 16, 2008

Hot on the heels of news that AIG held an impromptu party at an expensive resort in California to celebrate the bailout, news comes out that the company spent $87,000 for a hunting trip to England after getting another $37 billion from the governemnt.

New York Attorney General Andrew Cuomo ordered AIG to do away with golden parachutes for executives, golf outings and parties while taking government money to stay afloat, saying that he had the power to review and rescind such spending as long as the company is being propped up by the government.

Now that these huge debts are off the balance sheet, companies like AIG now find themselves with huge profits and no way to spend them. The poor bastards.

Meanwhile, our government edges closer to fascism - Government control of the means of production - by going into the banking business.

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