Business, Economics and Jobs

AIG parties after bailout

NT says AIG spared no expense: they spend $80,000 in the course of four or five days, with shooting parties, private jets and cars, food and wine, luxury rooms. The extraordinary thing is I think they recognized privately what they were doing was wasteful because when we approached the head of AIG in Portugal, he denied five times being there and denied of their spending. (What is your thought that it was a British tabloid paper that went after this story and not an American paper?) Well AIG offers insurance for thousands of homeowners here and employs 3,000 people in the U.K. but the global perspective is that if America makes a move, it affects everyone. (It would seem to me that the British press is tapping into an international sense of outrage over AIG's activities and turning it into fodder for the news.) this is not like the crash of '29, this recession is going to be felt by everybody. I think our paper recognizes that and will explain it to our readers. (Have American authorities approached you for help with their investigations into fraud allegations for these trips?) Yes, I think it's being taken very seriously by American authorities.

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