According to an article by Brian Ross of ABC News, the ink wasn't dry on the "Failout" plan approved by Paul Kanjorski, Nancy Pelosi, Barney Frank, Maxine Waters, and Gregory Meeks known as the Beating 5 (due to the beating the American public is taking over providing this failout)before the generous executives over at AIG spent $440,000.00 on a retreat that included pedicures and manicures. "(E)xecutives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today." Room rates generally hover around $1,000.00 per night.
Some thoughts come to mind-gluttony, ravenousness, voracity, avarice, greediness, unaldutlerated audacity, and self-indulgence. Joe Six Pack's thoughts on the matter were vengeance, retribution, reckoning, and justice. Foghorn Leghorn would say that these boys are more mixed up than feathers in a whirlwind. These executives have clouded their senses of acquisition and enslavement to ever more material pleasures, the attendant power, and a need to store up surplus gratification at the expense of hard working Americans. Our reaction to the news starting to filter out of Washington should be a tsuanami of epic proportions.
Washington needs to have an epiphany that the American public has limits of toleration. Richard Fuld, former CEO of Lehman Brothers, getting his lights knocked out symbolizes that limit. Both Fuld and the execs at AIG are shameless in their actions.
If you really want to see why the Failout was so important visit rightcoast for an excellent post for contribution figures obtained from OpenSecrets.