Fun with Bailout Money

[zedex]

Here's the article: http://www.msnbc.msn.com/id/27075884/


How do you feel about this? If it were up to you, what would you do about this?

I would snatch that money from under them fools in a heartbeat. They have shown us how well they mismanaged their own money, so against the wishes of the people and without a national vote, the gov't gives them 85B more to get right and save jobs.

In exchange, the gov't gets 80%.

Within 2 weeks of getting the money, AIG blows $443,000 on spa treatments for their CEOs. I see a crash course of financial mismanagement replaying itself here.

After yanking the money back, I would also require the CEO's to pay back what was spent on them at the spa.

If the company fails, too bad. Its their problem, not ours. The gov't owns 80%. Thats alot of nothingness. Let them have it and give us back the money. By doing this, the 700B bailout will most likely be spent in a meaningful and maybe profitable manner.

[ashman165]

Here's the article: http://www.msnbc.msn.com/id/27075884/


How do you feel about this? If it were up to you, what would you do about this?

I would snatch that money from under them fools in a heartbeat. They have shown us how well they mismanaged their own money, so against the wishes of the people and without a national vote, the gov't gives them 85B more to get right and save jobs.

In exchange, the gov't gets 80%.

Within 2 weeks of getting the money, AIG blows $443,000 on spa treatments for their CEOs. I see a crash course of financial mismanagement replaying itself here.

After yanking the money back, I would also require the CEO's to pay back what was spent on them at the spa.

If the company fails, too bad. Its their problem, not ours. The gov't owns 80%. Thats alot of nothingness. Let them have it and give us back the money. By doing this, the 700B bailout will most likely be spent in a meaningful and maybe profitable manner.

While agree it's bad form to do this, there's nothing in the article you linked that suggests the money paid for that was paid after the bailout. For all I know, the money resort could have been paid for services-to-be-rendered months before the execs even got there.

That, of course, begs the question why not ask for a refund if that's the case. In short, the bailout is a stop-gap measure since the attitude of the bigwigs isn't changing.

I don't know if this is an apt analogy, but when my children misspend their money, I don't give them more money to continue the poor spending habits.

[blueeagle]

Within 2 weeks of getting the money, AIG blows $443,000 on spa treatments for their CEOs. I see a crash course of financial mismanagement replaying itself here.

I'm in the wrong line of work!!

[gigirle]

I think everyone who was a registered guest of the company and at the spa needs to be fired. They were all aware of the companys financial situation. Its a matter of ethics and an insurance company! If I did that and tried to file bankruptcy...the federal judge would make me pay it back...so why should this be different?
This mismanagment by an insurance company is EXACTLY why the healthcare situation is the way it is today. Sorry buddy...you really don't need that MRI...walk in pain for months...I need a vacation before I make that decision.

[zedex]

While agree it's bad form to do this, there's nothing in the article you linked that suggests the money paid for that was paid after the bailout. For all I know, the money resort could have been paid for services-to-be-rendered months before the execs even got there.

That, of course, begs the question why not ask for a refund if that's the case. In short, the bailout is a stop-gap measure since the attitude of the bigwigs isn't changing.

I don't know if this is an apt analogy, but when my children misspend their money, I don't give them more money to continue the poor spending habits.

Try reading the title of the article and it that doesn't work, read the first paragraph, sixth word. Then read the first three paragraphs.

[zedex]

I'm in the wrong line of work!!

Act like you have an endless supply of money. Send me to a spa, please. Never been to one and I wanna know what's the big deal.

[zedex]

gigirle said:
I think everyone who was a registered guest of the company and at the spa needs to be fired.


Exactly

They were all aware of the companys financial situation. Its a matter of ethics and an insurance company!

You didn't really put the word "ethics" in a paragraph with "insurance companies", did you??


If I did that and tried to file bankruptcy...the federal judge would make me pay it back...

Or he'll just send you to jail for fraud instead


so why should this be different?

It isn't, but it is. Nobody cared to begin with and they ain't about to now
This mismanagment by an insurance company is EXACTLY why the healthcare situation is the way it is today. Sorry buddy...you really don't need that MRI...walk in pain for months...I need a vacation before I refuse you coverage.

Insurance companies are weasels. They should have never been bailed out. But, since it is too late, AIG should be monitored and scrutinized very closely

[ashman165]

Try reading the title of the article and it that doesn't work, read the first paragraph, sixth word. Then read the first three paragraphs.

Now I know the secret of the news! The story is in the headline! *cough* Not.

But's see if the language of the article shores this up:

The title of the article "After bailout, AIG sent executives to the spa" First

paragraph, sixth word says, and I quote, "the".

Nothing in there about paying for it after the bailout, only that they were sent after the bailout. When they were sent doesn't, at least to my mind, imply when the reservations were made and more importantly when it was paid for.

[blueeagle]

Act like you have an endless supply of money. Send me to a spa, please. Never been to one and I wanna know what's the big deal.

Ain't been in a while. I hardly see the point in it. Except for the fact of seeing an occasional beautiful woman.

[zedex]

Now I know the secret of the news! The story is in the headline! *cough* Not.AFTER is the keyword here. It means they went after. No mention of prepayment, just an apology for for them doing it. Sounds pretty simple to me.

But's see if the language of the article shores this up:

The title of the article "After bailout, AIG sent executives to the spa" First

paragraph, sixth word says, and I quote, "the".
[COLOR="Red"]WASHINGTON1 - Less2 than3 a4 week5 after6 the7 [/COLOR ]


Nothing in there about paying for it after the bailout, only that they were sent after the bailout. When they were sent doesn't, at least to my mind, imply when the reservations were made and more importantly when it was paid for.

In my mind, after the bailout means after the bailout. Reservations doesn't mean it was paid in advance, either, does it? Fact is that it does not matter, period. The money was laoned to them because of faulty business deals. And wasteful spending. This constitutes "wasteful spending" either before or after, it is wasteful. From a real perspective, if they can afford to do this before the bailout, they did not need our help. If they did this after the bailout, it shows wasteful spending practices are going to continue.

One point of interest is that no one at AIG said they had already paid the spa, only that doing this was bad idea.

If you like, you may endorse the bailout and finance it yourself, but for the greater portion of the population, it was a waste of our money and not many people approved of it. But, it is too late for that now, isn't it?