After bailout, AIG sent executives to spa...
We should bailout of this bailout. Worst idea in my opinion especially when the second piece of legislation (which passed) was over 300 pages when the first was about 3 pages. Talk about being loaded with pork!
Wednesday, October 8, 2008
What our tax dollars are doing in the bailout
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Funny, I was considering post this link earlier today about the AIG execs. It has an ABC news video about it included:
After Bailout, AIG Execs Head to California Resort
Now this afternoon I'm reading AIG's defense of that retreat:
AIG says lavish event was mischaracterized
That still doesn't justify the fact that the event took place. Let's face it, this is the lifestyle that these types of people not only demand, but expect. In many cases, it's all they know.
It is one of the fruits of capitalism. The top 2% living in extravagence, the bottom 98% doing what they're told.
...or doing what they have to do in order to survive....which may be totaly not in their interest. I'm sure a large number of that 98% would rather not survive.
Anyway, the reason I wanted to comment here is because unfortunately for me, I have my life insurance policy with AIG. Those #*%&*/ pigs!
What does all this mean for you Chris? Is your life insurance policy down the tubes now?
No. I was talking with a Liberty Mutual insurance agent yesterday and he said that if you buy an insurance policy from a company that later goes under, the state is legally obligated to assume responsibility for that policy until it can sell it to another company, during which time all content specific to that policy, like premiums, would remain very similar, if not exactly the same.
So I shouldn't have to worry about my policy or about my family should I die tomorrow. If AIG doesn't pay up, someone will have to. It's the law.
That makes sense, and I'm glad you are covered!
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