AIG squanders bailout dollars

I was watching CNBC live telecast at CNBC.COM last night. Astonishing I would have say, aig scrutinize for the misuse of bailout funds, questions about who should be jailed were raised during the conference.

I waited till this morning for the news before updating this blog.

Quoted from CNA

Less than one week after the taxpayers rescued AIG, company executives could be
found wining and dining at one of the most exclusive resorts in the nation,"
Democratic Congressman Henry Waxman told the House Committee on Oversight and Government Reform.

Quoted from CNBC

They were getting facials, manicures, and massages, while the American people
were footing the bill," said Rep. Elijah Cummings, a Maryland Democrat on the
oversight panel.

Full story here: CNA and CNBC. Will be back later with other posts.