AIG takes $343,000 junket with your tax dollars.

[70Ford]

Originally Posted by TennisDD

Ummmm, you might want to change the title of this post to "Mainstream media distorts another AIG story." Don't get me wrong, the people in charge of getting AIG into this mess with Credit Default Swaps are awful people, but our great mainstream media just loves a mob mentality that get's people off the real issue because it is "sensationalized."

70Ford, here are the Facts:
Your title says AIG puts on $343,000 junket with taxpayer money"
Reality: AIG paid around $23,000 for not a junket, but a meeting for product training to INDEPENDENT AGENTS!!!! NO CORPORATE EXECUTIVES. The rest was paid by sponsors

Also, on the Whole "California Exectuive Retreat," there were NO EXECUTIVES there, it was put on by indepdent financial planners. Cancelling it would have cost more money, plus the revenue generated by those independent financial planners is around 200 million ytd.

Again, there is harsh blame to go on for AIG, but the media is getting insane on distorting these stories and going after independent producers?????.

So, you're saying it's cool for them to blow cash?

What?

[TennisDD]

Okay, obviously there are some on here who will not look at those who are to blame. 23K paid by AIG to 150 advisors who bring in Top money. So let's talk about that.
Let's not talk about BILLIONS!!!!! being blown by those who got involved with CPS.

Yes, this is insanely silly.

It would be like having two friends. One borrows 10 K from you and another borrows a buck to get a coke. Two months later you have not been paid back by either and focus all your attention on the guy who bought a coke and owes you a dollar, while forgetting the friend who borrowed 10K from you

Even this analogy is unfair because the money spent on this conference for Indepdent agents, by spending the 23K on product training has brought in millions of revenue to the company

Now, could they have held the event at a Holiday Inn or Best Wetern, sure. Are you gonna attract big time financial planners who will make your company money, no.

Come on people, we cannot be this ignorant.

Oh yes, and if you really want to see the facts look at the interest AIG is gonna pay back to us(the taxpayer). We, not them, got a sweetheart deal when all is said.

But again, facts are boring, making up and distorting stories sell newspaers and commercials.

[iGlenn]

Originally Posted by TennisDD

It would be like having two friends. One borrows 10 K from you and another borrows a buck to get a coke. Two months later you have not been paid back by either and focus all your attention on the guy who bought a coke and owes you a dollar, while forgetting the friend who borrowed 10K from you

BRILLIANT!! Thats almost exactly what is happening here. The government has two friends. One (AIG) borrows billions and the other (tax payer) owes 1k. Months later the government hasn't received payment from either... well, you know the rest of the story.

[TennisDD]

My last post on this subject, though it has been fun
The only reason why I picked on this AIG story is because I am a fan of jouranlism, but also think our media does a horrible job on sensationalizing stories that have little to do with the problem, but our "sexy" to the public

We are talking about meetings and conventions AIG has paid around 470K combined(the 440 already paid for before the bailout, would have cost more to have cancelled).

What no one is talking about are the BILLIONS lost from AIG Product.

What is the next story, Financial Planner who sells AIG product caught eating at Denny's?!?

[70Ford]

Originally Posted by TennisDD

My last post on this subject, though it has been fun
The only reason why I picked on this AIG story is because I am a fan of jouranlism, but also think our media does a horrible job on sensationalizing stories that have little to do with the problem, but our "sexy" to the public

We are talking about meetings and conventions AIG has paid around 470K combined(the 440 already paid for before the bailout, would have cost more to have cancelled).

What no one is talking about are the BILLIONS lost from AIG Product.

What is the next story, Financial Planner who sells AIG product caught eating at Denny's?!?

I wonder why you are defending AIG. It's like saying, "Well, he only ate one person, not 20."

P.S. (f)inancial (p)lanner is not a proper noun.

[Woof]

It's not so much about the $343,000 as it is about the idea of people like Art Tambaro wallowing in luxury after having so screwed up AIG that it keeps requiring massive amounts of federal bailout money.

It may be indirect, it's not like we're passing the hat around to collect cash for Art's 2 story suite, but it still comes from us when all is said and done. The top execs should be hanged, not getting all kinds of perks .... at the very least they should be taking responsibility, resigning in disgrace and refusing any job termination money, like the CEO at that Swiss bank did.

[iGlenn]

Originally Posted by TennisDD

We are talking about meetings and conventions AIG has paid around 470K combined(the 440 already paid for before the bailout, would have cost more to have cancelled).

What no one is talking about are the BILLIONS lost from AIG Product.

What is the next story, Financial Planner who sells AIG product caught eating at Denny's?!?

The convention shouldn't have been planned in the first place. AIG knew a year ago they were in trouble.

The billions lost from AIG product is old news.

Whats wrong with Denny's?

[texdav]

I the end what it shows is that corporate america has loss the confidence of the citizens. They have goten use to luxury meetings that often accomplish nothing ;and having expeensive vacations on the stockholders. In the end they need to get back to busnesses meeting and have the people stay at more reasonable hotels not luxury resorts etc.