The $440,000 spa weekend isn't the only outrageous splurge AIG seems to have indulged in after being bailed out by taxpayers last month. Now come news of an $86,000 hunting trip in England, turned up by New York Attorney General Andrew Cuomo. And the faltering insurance giant is also still paying lobbyists to fight against strict oversight of mortgage originators, the Wall Street Journal adds.
The hunting trip was “an annual event for customers,” planned ahead of the almost $123 billion in total federal loans, a company official says, adding, “AIG’s priority is to continue focusing on actions necessary to repay the Federal Reserve loan and emerge as a vital, ongoing business.” Cuomo vows to ferret out and rescind any inappropriate spending since the Fed bailout. Of the hunting trip, the spokesman said, "We regret that this event was not canceled."