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The Associated Press
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WASHINGTON -
Less than a week after the federal government had to bail out American International Group, the company sent executives on a $440,000 retreat to a posh California resort, lawmakers investigating the company's meltdown said Tuesday.The tab included $23,380 worth of spa treatments for AIG employees as well as golf outings and banquets at the coastal St. Regis resort south of Los Angeles even as the company tapped into an $85 billion loan from the government it needed to stave off bankruptcy.The retreat didn't include anyone from the financial products division that nearly drove AIG under.The hearing also revealed that AIG executives hid the full range of its risky financial products from auditors as losses mounted, according to documents released by the congressional panel examining the chain of events that forced the government to bail out the conglomerate.
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