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Anorak | The Great AIG Partridge Hunt

The Great AIG Partridge Hunt

by | 18th, October 2008

I’M sure that we are all relieved to discover that the little matter of AIG having to be rescued by the US taxpayer didn’t stand in the way of the top brass continuing to take the occasional break from the stresses and strains of corporate life.

Sadly, however, the New York Attorney General, Andrew M. Cuomo, seems to think that dispatching a handful of A.I.G. officials to England on a private jet for a partridge hunt that reportedly cost about $90,000, after AIG had received $85 billion of the taxpayers money was ‘unwarranted and outrageous expenditure’.

What’s even worse is that he wants to claw back the multimillion-dollar payments to Martin Sullivan, A.I.G.’s former CEO, and Joseph J. Cassano, who ran the 377 person London office flogging credit default swaps, which brought down the largest insurer in the world.

Cuomo clearly doesn’t understand that the sole purpose of taxpayers is to provide vast sums of money to make a small number of people very, very rich…

Chenier

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Posted: 18th, October 2008 | In: Money Comments (11) | TrackBack | Permalink