AIG Fights Back on $440,000 Resort Trip; Says No Corporate Executives Attended

In his letter, Liddy said he could understand why the trip would look questionable given the current economic climate.

"We understand that our company is now facing very different challenges - and that we owe our employees and the American public new standards and approaches," Liddy wrote.

He did not offer any apology for the expense. Liddy was named as CEO of AIG during the same week that the spa retreat was held.

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