Did the bailout pay for that too?

I have very mixed feelings about the financial bailout plan the Americans passed into law to ease the pain created by the latest rounds of financial system failures precipitated by the sub-prime mortgage crisis. I don't feel the bailout sets a good precedent. It sends a message to the financial community that messing up in a big way is rewarded with taxpayers' money. Now, if the money was being spent on rescuing investors and homeowners screwed by the fallout of the crisis, I'd be a little more sympathetic, but it is my impression that most of the money is going to help the financial industry while most of their clients get squat.

My friend Ernest tipped me off to this little incident south of the border, where AIG executives spent almost a half million dollars on a retreat at a posh resort south of LA. The financial division of the company wasn't part of the retreat, but law-makers in the US are still a little miffed that less than a week after the bailout was agreed to, the company treats themselves at a time of economic downturn and for some people - economic disaster.

Bad timing........