The bailout money should be taken away from AIG once and for all!
To the outside observer, the 2008 Asset Management Conference held this week at the Pointe Hilton Squaw Peak Resort in Phoenix was nothing out of the ordinary.
Conference participants, however, were notable because of the publicity they've received for their role in the ongoing financial crisis.
The conference at the posh resort included many senior managers at American International Group, or AIG, one of the world's biggest insurers and recipients in September of more than $85 billion from the federal government.
AIG made significant efforts to disguise the conference, making sure there were no AIG logos or signs anywhere on the property.
An AIG spokesperson said there were no AIG markers in order to minimize signage costs and to lower the company's profile.
A hotel employee told ABC15, "We can't even say the word [AIG]."
In addition to the nearly 150 independent financial planners in Phoenix for training and education, the conference attendee list was a Who's Who of AIG leaders, including Larry Roth, President & CEO, AIG Advisor Group; Art Tambaro, President & CEO, Royal Alliance Associates; Mark Schlafly, President & CEO, FSC Securities; Gary Bender, Senior Vice President, Investment Advisory Services; Bruce Levitus, Senior Vice President, Investment Advisory Services; and Stuart Rogers, Senior Vice President.
The ABC15 Investigators went undercover at the resort and found AIG executives having poolside meetings while drinking coffee and working out at the spa while other attendees were in conference rooms for seminars.
We also watched as half a dozen of the executives went to dinner at McCormick & Schmick's at the Camelback Esplanade, racking up a bill of more than $400 for drinks, appetizers, and meals.
The three-day event at the resort was also supposed to feature hall of fame football quarterback Terry Bradshaw as a motivational guest speaker, but the company canceled Bradshaw's appearance shortly before the start of the conference, according to a company spokesperson.
Read on.
See the ABC15 Investigators' confrontation with AIG executives at Sky Harbor Airport:
6 comments:
Enough is enough it's time AIG gave all the money back since their only using it to party. They have lied over and over again while still spending the money for themselves. I want to see every penny given back to the US Treasury.
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